Wednesday, 10 June 2015
A broad based decline was witnessed on the domestic bourses on the first trading session of the week today, 8 June 2015, as an upbeat US jobs report raised expectations of early rate increase by the Federal Reserve. Higher US interest rates will reduce the attraction of riskier emerging-markets assets. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit 4-1/2-week low at the fag end of the trading session as these two key benchmark indices extended intraday losses. Meanwhile, global credit rating agency Moody's Investors Service reportedly said today, 8 June 2015, that below-normal rains would be credit negative for India's ratings as it would lower farm output and stoke food prices. Key benchmark indices languished in negative zone almost throughout the trading session today, 8 June 2015.
STOCKS TO WATCH
Selling opportunity below 260 stocks may show 250/240 level in coming days. Above 270 major resistances will be 275.
Buy DISHTV above 98, stock may show 106/110 level in coming days. Below 98 major supports will be 94.
PFC:Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.