Dubai crisis was a big overreaction which was wisely ignored by the Global markets. Indian stocks surged due to a combination of an ongoing recovery in the economy (good GDP numbers) and ample global liquidity.
Indian Government will publish numbers of industrial production for October 2009 on Friday, 11 December. Besides this there aren't any more cues from the domestic front. Global markets will mostly guide our market in the next few days.
Fresh call build up in the 5200 and 5300 strikes signifies bullish scenario. However there was aggressive put writing till the 5000 strikes, the 5100, 5200 and 5300 strike puts witnessed put buying thus indicating that there is some cautious move.
We believe that in the coming week, Nifty will break 5000 and might go upto 4980/4960/4940 and thereafter should bounce back in the later part of the week.
Meanwhile, the initial public offer (IPO) of JSW Energy opens for bidding on Monday, 7 December 2009. Two days later, the IPO of Godrej Properties opens for bidding.
Indian Government will publish numbers of industrial production for October 2009 on Friday, 11 December. Besides this there aren't any more cues from the domestic front. Global markets will mostly guide our market in the next few days.
Fresh call build up in the 5200 and 5300 strikes signifies bullish scenario. However there was aggressive put writing till the 5000 strikes, the 5100, 5200 and 5300 strike puts witnessed put buying thus indicating that there is some cautious move.
We believe that in the coming week, Nifty will break 5000 and might go upto 4980/4960/4940 and thereafter should bounce back in the later part of the week.
Meanwhile, the initial public offer (IPO) of JSW Energy opens for bidding on Monday, 7 December 2009. Two days later, the IPO of Godrej Properties opens for bidding.
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