Fight is ON - without clear winner

08-12-2010

Hi,

Wish you all happy earnings for the day.

Global Indications:

Global cues, particularly from USA are not encouraging. Yesterday night, Dow Jones was up by more than 50 points but in the end it has closed down by 3 points. Asian market is trading up with marginal gains. SGX Nifty is trading down by 31 points.

Global indications are flat yesterday. No clear cut indications are there from global market. 

USA – Europe

On Monday, Dow Jones down by 3 points, , Nasdaq up by 3 points, S & P down  by 0.6 points, FTSE up by 33 points, DAX  up by 43 points appx.

Nikki +98, Kospi + 3, Strait + 4, Hengseng  -Untouch, Shanghai -1

Singapore nifty is trading down by 31 points.

Battle between bears and bulls is going on at it picks and no clear cut indications of winning either. So stay away from market till definite trend of market is clear.

Market is not uptrend till low of nifty is not above 6040.

Yesterday I have picked up Tata Steel and Glenmark Pharma for trading. Both had increased by 1%.

Today no picks but previous picks hold good.

Summary is that wait for clear cues to trade in the Market.

Please write your suggestions and ideas.

Thanks