Market Outlook:
Stocks in the US inched higher on Thursday as investors accepted positive report on week on week Jobless claims ahead of the Monthly Jobs report due today. Jobless claims in US fell by 4,000 while Continuing claims fell to 6.73 Mln. Key averages in Asia are trading in the green today, led by banking and commodity stocks as metals and crude oil price surged in the international markets.
Domestic markets are expected to open positively, following their Asian counterparts. Nifty is expected to open above the much awaited 4600 level and can target the first Resistance at 4620. The Critical Support level for Nifty is seen at 4574 and if it stays above this, positive momentum can continue towards 4677 level. Below 4574 Strong Support comes at 4548.
Saturday, June 6, 2009
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