19 March Morning Update

19 March 2010 Morning Updates  08:51
Our market will open negative and will trade flattish.Those who are holding long in Nifty should trail their stops to 5160.Nifty has a resistance around 5270 level,momentum traders can book profits on higher levels.Stock specific movement expected today.
US Market:
In the US markets, action was choppy and lackluster but the Dow still mustered enough support in late trade to make a fresh 52-week high.

Markets opened higher after jobless claims came in line with estimates and the CPI for February came in flat. But lost steam midday as the dollar gained.
In other corporate news, FedEx, Nike and Guess all announced better-than-expected earnings. Though this session's action was choppy, and at times sloppy, volatility dropped to a fresh 52-week low. The volatility index closed 1.7% lower.
The Dow gained 0.4%, to close at 10,779.17, Led by Boeing after an analyst upgrade on the stock. The Dow gained 2.2% in the eight-day streak, its longest since August 2009. The S&P 500 & the Nasdaq closed flat.

The dollar rose against the euro on persistent worries over Greece's debt problems after a report said the country was not optimistic about aid from euro zone members.
The greenback managed to sustain its gain in the face of tepid consumer price data, which is often treated as a barometer for inflation expectations.
Energy commodities sold off this session. Crude oil futures traded below the USD 82 level in early trade and closed New York session around the USD 82 level.
Copper prices fell for the first time in three days as the dollar's rebound eroded the appeal of most metals as an alternative investment. Prices also dropped amid concern that China, the world's biggest metal buyer, may increase interest rates, damping commodity demand. Most other base metal prices were also muted
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