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The traders have waited for long for such a uptrend which came finally and the sensex surged 414 Points to close at 15,757 points and Nifty closed at 4,761 gaining 114 points from its previous close.The uptrend in Asian markets which were up by about 1% helped the Indian markets a lot. ICICI bank, JP Associates, HUL were among the gainers in the market. Some of the IT counters were doing well yesterday.
Meanwhile the US markets have closed flat yesterday with Dow gaining 3 points and Nasdaq losing 6 points from its previous close. The Asian markets are also down in the morning trade with Nikkei-225 and Hang Seng losing about 1% each till 9AM(IST). So we may see a volatile session today and markets might remain subdued. But for sometime we are seeing some sort of decoupling effect in the Indian markets from their western and Asian counter parts. I shall bring a post on this very soon over here.
Lets have a look at some of the stocks for coming days: Shipping Corporation of India, Orchid Chemicals, Guj NRE Coke, Piramyd retail Ltd, SEL Manufacturing company, United Phosphorous, Bang Over seas, BOI, India Bull Securities.
Its time to trade very cautiously in the markets, as charts and technical analysis does not favour a bull market in the current situation.
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