Market Report

With a turnover of around 2.3 Lakh crores we closed below 2 year lows.With weekly inflation data set to release today and the FNO settlement expect a huge volatility.FIIs continuing to withdraw funds from Indian equities and the fall in rupee are seen as culprits for the fall in the domestic front.In International front it is the Euro Zone crisis and the revision of US GDP to 2% from the earlier 2.5% and the poor Chinese factory output hitting 32 month lows.

In the past 6 trading sessions FIIs had sold around Rs.3200 crores of Indian equities.While am writing this Nikkei hits new 2011 lows and is down by 1.7%(Nikkei was shut yesterday).

US markets are closed today on account of Thanksgiving day.S&P and NASDAQ are down for the 6th day in a row.FTSE is down for the 8th straight day and is down by 405 points since 11th of November '11.

Alex sir says ,support for the Nifty for the day is at 4640 and 4594 and the resistances are at 4737 and 4750.

SGX Nifty is seen trading at 4676 at 07.45 AM IST.

Expect huge volatility in our markets for the day.Keep an eye on Inflation data.