US Markets (DOW and NASDAQ) Today : April 16,2008

Its a big day on Walstreet. Dow up by over a massive 250 points and NASDAQ by 64 points. The indexes gained by 2.5% from yesterday's close price.

Triggers

1. Better than expected Quarterly numbers from Intel, JP Morgon Chase and Coca - Cola

2. IBM and eBay also reported higher quarterly sales and earnings , but after the close of the trading day. So already some positive triggers for tmrw.

3. New home construction fall to a 17 year low, which is more than expected .

4.March Industrial production rose 0.3% which is above the estimated

5. Oil set again new record by settling at $ 114.93

6. Dollar hit all time low vs Euro and rose against the YEN

Impact on India 

Indian Markets can open around 4950-5000 levels as there are very good cues coming from US Markets. At the moment , the Asian Indices like NIKKEI are trading higher from yesterday's close. Considering the reports announced by IBM and eBAY today after close of the trade in US, we can expect good cues when Indian Markets re open on Monday. So overall, we can see some upside move in NIFTY till atleast early next week.