HYDERABAD: The disgraced chairman of Satyam Computer Services B Ramalinga Raju has surrendered on late Friday night before the Andhra Pradesh Raju Director General of Police, two days after he confessed to perpetrating a Rs 7,000-crore financial fraud. The CID had registered a case based on Raju’s confessional statement.
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According to Angel Broking’s Technical Analysis report, if the indices trade convincingly below 9162/2812 level then it may test 8470/2570 levels in couple of trading sessions.
According to Mansukh Securities and Finance’s report, Nifty has closed below an important level of 2980 which suggests that it may dip further to 2900/2860 levels.
US Markets ended mixed after a volatile start, and European Markets ended marginally lower.
According to Reliance Money’s Morning Notes, as for short term any close below levels of 2820 of NIFTY we may witness continuation of current momentum sell-off.
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Technical Analyst, Ashwani Gujral: Market may have negative opening today. Supports are at 2780-2812 and resistance is at 2880 -2900. Traders can initiate short positions at resistance levels.
KR Bharat, Advent Advisors: In the absence of any good news from the economic, political and earnings front, the markets which have been trading in a range with an upside bias, may now trade in a range with a downside bias. This global bear market is possibly coming to a halt.
Technical Analyst, Vijay Bhambwani: After opening on a steady note, the markets plummeted past the specified supports as the Satyam Computer imbroglio yanked the floor below the bulls. The traded volumes sky rocketed as delivery based unwinding was evident. The market breadth was expectedly negative as the BSE advance decline ratio was 414 : 2111. The capitalisation of the breadth was also negative as sellers out-numbered the buyers.
Mastek has declared its standalone results for the second quarter. The company’s standalone net sales were at Rs 155.44 crore versus Rs 156.74 crore on QoQ basis.