Nifty closed at 5,487.75, down by 59.05 points or 1.06 over the previous day closing of 5,546.80, after witnessing a low of 5,475.65 and a high of 5,512.10. Sensex closed at 18,209.52, down by 222.73 points or 1.21 over the previous day closing of 18,432.25. It touched an intraday low of 18,188.88 and high of 18,327.85.
The markets’ breadth was negative. Out of 2,979 stocks traded, 975 stocks advanced, 1,869 stocks declined and 135 stocks remained unchanged. In Sensex, 6 stocks advanced and 24 stocks declined.
FIIs were net buyers with the tune of ` 64.66 crore on Friday, the 28th July 2011(prov. fig.)
FOR DETAILS, “READ HERE”.
The markets’ breadth was negative. Out of 2,979 stocks traded, 975 stocks advanced, 1,869 stocks declined and 135 stocks remained unchanged. In Sensex, 6 stocks advanced and 24 stocks declined.
FIIs were net buyers with the tune of ` 64.66 crore on Friday, the 28th July 2011(prov. fig.)
FOR DETAILS, “READ HERE”.
VIEWS FROM DIFFERENT BROKING HOUSES:
CHARTPUNDIT.COM (Hemen Kapadia): “Nifty is due for a bounce of maybe 70-80 Nifty points by tomorrow. “It would be a bit surprising if it breaks and starts going further down from here”.
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty witnessed a weak show and after weakening the momentum in last session, today closed the July series of F&O in red. In its downward drift, Nifty lost its vital support of 5500. On account of weakness, Nifty for the third successive day closed below the vital support levels of 9, 14, 50 and 100 day’s SMA placed at 5488, 5579, 5519 & 5582 levels; this may continue to spoil the buying sentiments in forthcoming sessions. Akin to last two sessions, today Bears again dominated the market, because of which, Indices closed with weak market breadth. This may strengthen selling sentiments in coming sessions. In today’s session, VIX closed at a little modest level of 18.51%, indicating average volatility in market in the forthcoming sessions. RSI (14) for the session was at 43.85 levels and MACD moved below the signal line, thus combined together they are giving the signals that; market may be in range bound trade in coming session”.
FAIRWEALTH SECURITIES: “In the next session, Nifty is expected to trade in the range 5434-5526. If sustained beyond the given range it may get support around 5400 and 5380, while 5555 may act as strong resistance zone. Bank Nifty has a strong support level around 10770. If sustained below this level it may test 10610. Bank nifty may face resistance around 10960 and 11030”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade short in Nifty below 5500 levels, with stoploss at 5,520 for the targets of 5,465-5,450 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty continued to slip and came down near the support of 5,471 and closed away from it. Nifty rollover figure at the end of trading session was at 61.47%. Weakness is there in its belly but being the first day of the August F&O contract, we may see value buying tomorrow at lower levels. Nifty is having support at 5,455 and 5,423 while the resistance is there at 5,528 and 5,560. The corporate results till now are also not so encouraging and so major support is expected from that part”.
GEPL CAPITAL: “After the correction of past three sessions Nifty is now placed near an important support zone of 5460 to 5440. There is a possibility that the present sell off may get arrested near the above mentioned range. We recommend a wait and watch approach and look out of signs of reversal near the mentioned range to initiate long positions. The overall uptrend that started last month would remain intact as long as Nifty trades above 5350 level. This level of 5350 should now serve as a stop loss of any long positions”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market opened gap down and stayed down but taking care to stay above very strong support of 5468. Technically no sign of strength and the next logical target on the downside is 5404 but I would not be surprised with a bounce back but strong resistance exists at 5532. The support for the Nifty is at 5468-5404 and resistance at 5532. The crucial support on the Sensex on the downside is 18009 and resistance at 18437”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market opened gap down and stayed down but taking care to stay above very strong support of 5468. Technically no sign of strength and the next logical target on the downside is 5404 but I would not be surprised with a bounce back but strong resistance exists at 5532. The support for the Nifty is at 5468-5404 and resistance at 5532. The crucial support on the Sensex on the downside is 18009 and resistance at 18437”.
ANGEL BROKING (Technical): “Markets opened on a pessimistic note and breached important intraday support level of 18,326/5,496 during the initial trade of the session and tested next support level of 18,223/5,468. We are observing a negative crossover in ‘ADX (9)’ indicator which indicates a negative momentum is likely to continue in coming trading sessions if indices sustain below 18,188/5,468 level. Any move below this level, indices may test 18,000/5,400 level. On the upside, downside gap area of 18,358-18,328/5,521-5,512 levels may act a resistance zone in coming trading session. In case of a move beyond this resistance, indices may test 18,465-18,580/ 5,555-5,592 levels”.
IIFL (Amar Ambani): “The after-shocks of the RBI’s aggressive monetary tightening earlier this week continues to rattle the markets. Concerns seem to be mounting on the impact of the series of rate hikes on the Indian economy and corporate profits going forward. FII inflows too have moderated lately while results are not having any material effect on the overall sentiment. The market will remain sideways and range-bound in the near-term with a slightly negative bias”.
MICROSEC SECURITIES: “Yesterday Nifty traded in a narrow band of 5475 and 5512. Now we expect Nifty to move in the range of 5440 and 5610 in the extreme short term. If Nifty breaches 5440, the short term trend would become negative and it may test the level of 5300. However a breach of 5610 would open the gate for 5750. On an intra-day basis Nifty has a support at 5470 and is likely to face a stiff resistance near 5520. If Nifty breaks 5470, it may further go down to 5440 and then 5400. However, if it is able to sustain above 5520, the level of 5550–5590 would become the next target”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed selling pressure for the third consecutive day and closed in red below 5,500 levels. Bears are having balls in their hand and selling pressure may be continuing below 5,475 levels. On upside, Nifty may face resistance at 5,550 levels. For daily purpose, trend deciding level is at 5,500. If Nifty shows strength above 5,500 levels, then rally to 5,550/5,600/5,650 levels may be seen. If Nifty does not show strength above 5,500 levels then selling pressure till 5,450/5,400/5,350 may also be seen”.
SWASTIKA INVESTMART: “On daily charts, Nifty slipped below the trend line of near 5542-5530 which was acting as strong support from several sessions. It moved mostly in the range of 5480-5500 during the entire session and was unable to hold firmly above 5500
mark. Now, on higher side if it holds decisively above 5530 then only some strength is seen in the market otherwise if it trades below the immediate support level of 5570 then the index may further penetrate towards 5430/5380 whereas 5570/5605 is still acting as major resistance for it”.
HEM SECURITIES: “Bloodbath in the market continued for the third consecutive session. It was an expiry session marked by extreme weakness, poor earnings, and selling in reliance, technology & metal stocks that knocked off the market. For tomorrow, markets are expected to be sideways”.
HDFC SECURITIES: “Today, we expect the Indian Markets to open on a weak note following negative global cues. Thereafter it is likely to stabilize at lower levels & trade in a range, but with negative bias. Among the indices, Metals, Realty & IT look weak & could underperform”.
INDIRATRADE SECURITIES: “On Thursday’s trade negative global cues took their toll on the markets and both benchmark indices closed with significant loss. Being the day of July Futures expiry also had its negative impact on the indices. Metal and realty were the biggest losers of trade and were closely followed by oil & gas, IT and banking. FMCG was the lone sector to close positive. For today’s trade market likely to trade in the range between 5510 & 5540 in the upper side and 5460 & 5410 in the lower side”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18,242/5,492 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,295–18,381/5,508–5,528 levels. However, if Nifty trades below 18,242/5,492 levels for the first half-an-hour of trade then it may correct up to 18,156–18,103/5,472–5,455 levels”.
BONANZA ONLINE: “Nifty showed selling pressure for 3rd consecutive day and closed in red below 5600 levels. Bears are having balls in their hand and selling pressure may be continuing below 5575 levels. On upside, Nifty may face resistance at 5550 levels. For daily purpose, Trend deciding level is 5500. If Nifty shows strength above 5500 levels, then rally to 5550/5600/5650levels may be seen. If Nifty does not show strength above 5500 levels then selling pressure till 5450/5400/5350 may also be seen”.
NIRMAL BANG SECURITIES: “On the lower side strong and final support for nifty future seen at 5431 which is the trend-line joining from the lows of 11 (Feb) 5175 to lows of 25 (May) 5328. And going forward if nifty future trades consistently below 5430 then 5360–5290 is possible very soon. So avoid buying below 5430. For the Sensex strong support exits at 18130 levels and break below this point could drift the index lower to next support of 17900–17750 levels while resistance seen at 18600 levels and rally could be only stability above 18600 levels. BANK NIFTY @ 10834 has also turned very negative which was few days back strongly holding above its 200-EMA of 11003. Strong support is seen around 10700-10620-10500 levels where possibly buying could emerge. Banking index could turn very negative only if closes below 10500 till then there is chance that we could see a bounce back”.
FOR TECHNICALS/DAY CALLS, “READ HERE”
No comments:
Post a Comment