50-share Nifty, BSE Sensex down november 21 2011

Indonesia stock info - 50-share Nifty, BSE Sensex down november 21 2011 ; The 50-share Nifty index is expected to open lower on Monday tracking weak Asian markets as investors await more details on plans from European leaders to contain burgeoning eurozone debt crisis.

Last week BSE Sensex slipped 4.78% on the back of worsening euro zone crisis and depreciating rupee.

"If Rupee continues to depreciate we may continue to see more outflows from FIIs. India may not be able to reap benefits of softer commodities price because of the sharper depreciation of rupee," added Dharmesh Pancholi, senior manager, advisory (equity), Sharekhan

"The 50-share Nifty index has formed a hammer on the daily chart, which is a positive sign for the market in the immediate run. It has taken support around 4830 and is now expected to bounce for a target of 5,000 which may also act as strong resistance," added Dharmesh.

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