Majority of the Indians yesterday did not knew where the Govt is headed, the stock market did also showed signs of directionless. Trading was extremely choppy and more stock specific. But in the ending session markets rallied and ended in the positive zone due to short covering. The actual trust vote is schedule to happen today between 5-6 pm. Till this cloud of uncertainty is not clear, market will remain directionless. By late evening we will know the outcome and that will give the markets a sense of direction for trading on wednesday.
Tuesday, July 22, 2008
==>> Count down begins
Majority of the Indians yesterday did not knew where the Govt is headed, the stock market did also showed signs of directionless. Trading was extremely choppy and more stock specific. But in the ending session markets rallied and ended in the positive zone due to short covering. The actual trust vote is schedule to happen today between 5-6 pm. Till this cloud of uncertainty is not clear, market will remain directionless. By late evening we will know the outcome and that will give the markets a sense of direction for trading on wednesday.
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Amidst high volatility the markets are likely to keep strong under current. Individual stocks are performing either as per Q1
result or open interest in derivative segment. A lot will depend on the outcome of the vote of confidence in the Parliament by
Tuesday evening. Any negative development can cause high damage to the current rally. The support for the day is seen 13500/4050 while the resistance for the day is seen near 14050/4225.
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