Monday, July 19, 2010

Live Share Market Update

NSE Nifty is expected to open with a downside movement.The positive momentum can happen only if trades and sustains above the Critical level of 5392.The first support for the day will be at 5348.If Nifty breaks this level,there can be more weakness wherein the market can drift towards the major support at 5320.Above the Critical level,there will be a resistance at 5418.On top of this,the index can move towards 5436

Major stock markets in the US tumbled down in Friday's trade as disappointing data on Consumer Sentiment was coupled with anemic Revenues from GE, Bank of America Corp and Citigroup Inc; raising concerns over double dip in the world's largest economy.

RESULT: HDFC Bank Atul, Aventis Pharma, Container
Corp of India, Crompton Greaves, Escorts, ETC Networks, Excel Industries,
Mid-Day Multimedia, MindTree, Indowind Energy, Jindal Saw, PTC India, Sesa
Goa, State Bank of Mysore, Sunflag Iron And Steel Co, Triveni Engineering &
Industries, Whirlpool of India, Zylog Systems.

HDFC Bank earning estimates: The company's net interest income is seen going up 26.8% from Rs 1855 crore to Rs 2352 crore.Its net profit is expected to go up 33% to Rs 807 crore from Rs 606 crore.

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