Amid concerns on some economic data on jobs, the US markets fell sharply in the last trading hour of the day.Dow fell by 2.51% and Nasdaq fell by 3.14% in the very last hour.On this the crude oil prices also fell to $44/barrel since there is a demand slowdown which is expected in the coming days. So the falling crude oil prices is also a wrong indication on the economic condition going on.

On contrary the Asian markets are trading higher following the rate cuts announced by Central banks in Europe.Nikkei-225 is marginally up by 0.77% and Hang Seng is up by 1.93% currently. Indian markets would be direction less in such scenario.NTPC is a stock looking very good on the charts for now.If it manages to close above the 200 day moving average in the coming days, NTPC would be the best bet.Look at NDTV,Suzlon,RIL ,HDIL,TV TOday Network,unitech for intra day trading in these markets.

Meanwhile RBI will be conducting a conference on Saturday,Dec 6th to decide on rate cuts and announce some packages for the ailing sectors so as to over come the tough economic situation prevailing.Auto and Infrastructure which are facing the toughest time will get some boost from the Govt.

Powered by