Foreign Institutional Investors (FIIs) were net sellers in the equity segment worth Rs 9.21 billion on both the BSE and the NSE on Jan. 31, as per provisional data available at NSE. They bought equities worth Rs 25.99 billion and sold equities worth Rs 35.20 billion.
At the close, the benchmark 30-share index, BSE Sensex lost 68.21 points or 0.37% at 18,327.76 with 17 components registering drop. Meanwhile, the broad based NSE Nifty fell by 6.25 points or 0.11% at 5,505.90 with 29 components registering drop. The BSE Mid and small caps underperformed their larger counterparts declining 0.44% and 0.80% respectively. Market breadth was negative with 1,206 advances against 1,737 declines.
FOR TODAY: Nifty is looking bearish in the coming trading session. It has first support close to the level of 5410 & after it may get the next support close to the level of 5350. Resistance close to the level of 5588 & after it may face the next resistance close to the level of 5625. SGX Nifty is trading around 5525 level up a little bit. Nifty may open up at 5520-5528 level and will try to break out the first resistance around 5560 level. The market will look for 5504 to protect the buying after which we can once again see 5549 and then 5580 and hopefully the big 5625. For Bank nifty, first support will be 10385 and resistance emerges at the level of 10670
Buy ABB around Rs 725 with target of Rs 740-755 and stop loss of below Rs 710
Buy Divis Laboratories above Rs 644 with target of Rs 654-664 and stop loss of below Rs 634
Sell Tata Coffee below Rs 670 with target of Rs 657-640 and stop loss of above Rs 683
BUY ORCHID CHEMICALS around 290 for a target 310 with stoploss of 283 (1 -7 Days)
BUY JP ASSOCIATES at CMP for a target 122/134 with a view of holding 12 months for investment purpose.
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