End of day summary and outlook for 07Dec06

The markets today closed almost a the same levels as yesterday, but we cannot go by that as there was lot of choppiness. Many of the stocks corrected substantially. The advance decline ratio was poor as there 2 advancing to every 5 declining stocks. The NSE Nifty closed at 4015.95 just 0.20 points above the previous close. The BSE Sensex closed at 13949.00 just 11.35 points above the previous close. It was again a case of markets unable to sustain the opening highs. The FIIs were net buyers in the cash market segment for 304 crores, net sellers in the index futures for 294.50 crores and net buyers of 50.52 crores in stock futures.

Tomorrow the markets will open week and recover as the day progresses. The Nifty has the support at 3980-3965-3939 and resistance at 4050.00 Still no panic but caution is definately advised. The rumour in the market now is that it might touch 4300.00 before correcting.

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.