Nifty continued with its down move and made a low of 4788 but
outperformed rest of world markets as we are down only 0.8% WoW basis.
Last week as we discussed below 4995 trend remain bearish and Nifty made
a high of 4957 and reached to 4788.
Click Here to Read the Previous Week Analysis
Indian
markets are facing the double whammy of rising Indian Rupee as it
touched almost 55 odd levels,Life time low with rising Inflation as
April Inflation came at 7.23%Greece the small economy has kept the world
markets on its toes on whether it will remain in and out of Eurozone.
Greece leaving Eurozone will be Lehman Moment of 2012 and cost run in
almost trillion dollars.Greece has declared election on 17 June which
gives lot of time to ECB and World Leaders to prepare a contingency plan
for Greece Exit.
Facebook Listed on NASDAQ on Friday and
closed almost at its 38.23 near to its offer price.Facebook net worth is
now 104 Billion Dollars.
In simple valuation terms, Facebook's
stock is trading at 105 times its 2011 earnings. This means that in
2011, the company's profits stood at US$ 1 bn. For any company to
justify such valuations, its earnings growth needs to be phenomenally
high. How Facebook will capitalise on its 900 m plus user base (and one
that is still growing), will definitely be interesting.
Lets jump into Technical.
Nifty Hourly Chart
Nifty hourly charts are giving sign of reversals as it is breaking the
downward slopping trendline from running from 5300. Close....
Read the Full Story
Opto
Circuit would be declaring its results today.Stock is unable to sustain
and close above its 20 SMA 178 which means technically stocks look
week.Break of 168 can lead to panic selling in stock and on higher end
178-182 range will act as stiff resistance
