End of day summary and outlook for 28Nov06

Today was a very boring day of trade as the NSE Nifty traded within a range of 20 points. There were not many big stock moves as well. NTPC along with the cement majors ACC and GAC held the market up. The NSE Nifty closed at 3968.90 with a gain of 18 points and the BSE sensex closed at 13773.59 with a gain of 70.26 points. Either the FIIs were undecided on which way to go or they were not back from their holiday as they were just 0.91 crore net buyers in cash segment, 107 crores net buyers in Index futures and 396 crores net sellers in stock futures, that too with a very low volume.

The outlook for 28Nov06 is not very encouraging as the major world markets are trading in the negetive zone. If our markets open week, it might recover in the later part of the day depending upon the strenght in our markets. If the markets opens strong than it is advisable to go short on Nifty for intraday. Please check the closing of the world markets before you do so as they were still trading at the time of posting this summary.

Disclaimer: The recommendations provided would be purely on my personal opinion and doesnot reflect any fund house interest or my personal holdings. I would not be responsible for the loss in trades undertaken based on my recommendations.