Today’s Quote
Share prices follow the theorem: Hope divided by fear minus greed -- Dominic Lawson
Nifty Outlook
ALL TRENDS ARE UP AND SHORT TERM CORRECTION WAS EXPECTED BUT AFTER PRSEDENTIAL ADDRESSES YESTERDAY INDIAN MARKETS RECOVERED AND CLOSED AT DAY'S HIGHEST LEVELS. INDIAN MARKETS ALMOST CROSSED STRONG RESISTANCE RANGE OF 4500-4620 AND NIFTY CLOSED YESTERDAY AT 4572.65. NOW IT IS EXPECTED THAT NIFTY WILL CROSS 4620 AND TRAVELLING TOWARD +4900 WILL START.
AFTER POSITIVE OPENING SOME VOLTALITY MAY BE SEEN BECAUSE SENTIMENT IS HEATED. NIFTY SUSTAINING ABOVE 4600 WILL MEAN CROSSING 4620, BEGINING OF FRESH UP MOVE.
News today
*American International Group Inc., the insurer bailed out by the U.S., may raise $988 million selling shares in reinsurer Transatlantic Holdings Inc.
*Arabs welcomed President Barack Obama’s call for a “new beginning” in relations with the Muslim world and called on the U.S. to match words with actions, while in Israel analysts said the speech would intensify pressure on their government to halt West Bank settlements.
*General Motors Corp will give more than $2.5 billion of the $3.6 billion needed for Platinum Equity to gain control of bankrupt car parts supplier Delphi Corp, the Wall Street Journal said, citing a source.
*US crude futures rose above $69 a barrel on Friday, but traded below seven-month highs hit in the previous session, drawing strength from positive US jobs data, a rally in stock markets and a weaker dollar.
*Pakistan arrested three senior leaders of a pro-Taliban group, which had negotiated an accord in northwest Swat valley with the government in February for the imposition of Islamic law, in return for peace
*Despite recession, India emerged as the second largest investor in the UK in 2008, after the United States, according to a new study that sees Mumbai and Bangalore as the next top centers of global investment.
*President Pratibha Patil's address to both Houses of Parliament was billed as a ``watch-this-space'' event and it lived up to the hype.
Tags: Stock Market, 2009, Parliament, U.S., BSE, NIFTY, SHARES
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