| The markets opened on a weak note and proceeded to trade higher through Thursday. The benchmark indices gained marginally to end in positive territory after a short-lived correction. |
| Traded volumes were in line with Wednesday's session. |
| The market breadth was positive as the ratio of advancing to declining shares on the Bombay Stock Exchange and the National Stock Exchange combined stood at 1853 : 1355. The breadth was positive too at Rs 4,965 crore: Rs 3,132 crore on the two bourses taken together.. |
| The indices have managed to stay above the crucial levels of 2142 and 6844 on the Nifty and the Sensex, respectively, which are likely to be the short-term floor levels for the indices on an intraday basis. |
| The upside resistance will be encountered at 2185 and 6966 levels on an intra-day basis in Friday's session. |
| The traded volumes must pick up to signal higher retail participation in the coming days. |
| The boost is likely to come from the from the frontline heavy-weight institutional counters as the markets suggest strong institutional activity in the coming days. |
| The outlook for the markets on Friday is of optimism as the bulls are undeterred by negative news flow. |
| Should the overseas markets not spring a negative surprise, I feel the domestic markets should see a slight upmove with a profit taking bias at higher levels due to the weekend factor. |
| Among stocks, activity is likely to be seen in ITC and BHEL, which are witnessing accumulation in the previous sessions. |
| Buying is recommended in the cash and F&O segments. |
| Among the recent recommendations, HDFC has started it's upmove and short-term traders may see the target price in the short term.
Vijay L. Bhambwani |
| Sebi disclosure: the analyst has no exposure to the scrips mentioned above. |
Volume comes into focus
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First Published: Mar 11 2005 | 12:00 AM IST
