The week (4th Jan-2010 to 8th –Jan-2010) Indian stock market were steady as there were no clear clues, no events to watch and no new happenings. The indexes are having strong support of certain levels and strong resistance at the other. Global clues in between were also not very clear.
With rupee appreciating from last 4 consecutive days there is a pressure on technology stocks and most of the technology stocks are trading in red though the rupee's weakned, after touching a 15-month high on the previous day. Auto stocks are having a rally might be because of auto expo in Delhi wherein they have showcased new products and plans for year 2010. The Y-O-Y sales of all the auto major have registered a jump of at least 40% this bringing more cheer and rally to auto stocks. Metal stocks were also not impressive throughout the week; the early days gains have been lost in last 2-3 trading session. Real estate is showing a spurt with the stocks gaining 3-4%.
With rupee appreciating from last 4 consecutive days there is a pressure on technology stocks and most of the technology stocks are trading in red though the rupee's weakned, after touching a 15-month high on the previous day. Auto stocks are having a rally might be because of auto expo in Delhi wherein they have showcased new products and plans for year 2010. The Y-O-Y sales of all the auto major have registered a jump of at least 40% this bringing more cheer and rally to auto stocks. Metal stocks were also not impressive throughout the week; the early days gains have been lost in last 2-3 trading session. Real estate is showing a spurt with the stocks gaining 3-4%.
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