The BSE Sensex rose 148.99 points or 0.80% to 18,871.29, its highest closing level since 7 July 2011. The Sensex jumped 209.97 points at the day's high of 18,932.27 in mid-afternoon trade. The index fell 51.46 points at the day's low of 18,670.84 in early trade. The S&P CNX Nifty rose 46.35 points or 0.82% to 5,680.30, its highest closing level since 7 July 2011. The Nifty hit high of 5,700.55 in intraday trade. The BSE Mid-Cap index was up 0.49% and the BSE Small-Cap index was up 0.50%. Both these indices underperformed the Sensex.
The market breadth was positive. On BSE, 1,609 shares advanced and 1,274 shares declined and a total of 121 shares remained unchanged. From the 30-share Sensex pack, 24 stocks rose and the rest fell.
FIIs were net buyers with the tune of ` 315.72 crore on Monday, the 25th July 2011(prov. fig.)
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VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty witnessed a fabulous show and after a dull move of early session, regained its vital support of 5680. Not only Nifty regained its crucial supports, but also exhibited its solidarity by closing near high point of the day. On account of today’s burst, Nifty ably started the week on positive note and thus kept the positive momentum intact. Nifty maintained the vital support levels of 9, 14, 50 and 100 day’s SMA; this may support the buying sentiments in forthcoming sessions. Near month future of Nifty closed at premium w.r.t. spot that may support buying in coming session. After regaining control from bears in last session, today Bulls again roared to outplay bears, because of which, Indices closed with firm market breadth. This may offer support to the buying sentiments in coming sessions. Nifty managed to close above the vital supports of 9, 14, 50 and 100 day’s SMA placed at 5597, 5609, 5513 & 5580. In today’s session, VIX closed at a little higher level of 19.20%, indicating more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 59.09 levels and MACD moved above the signal line, thus combined together they are giving the signals that; market may continue its positive momentum with lesser volatility”.
FAIRWEALTH SECURITIES: “Nifty almost traded in the range given and finally closed at 5,680. Closing of Nifty above 5,655 is a strong signal for bulls. Buying at dips is recommended for the coming session. Market is expected to trade in a wide range with high volatility on account of RBI-Credit policy and Reliance Industries results ahead. Next session’s range for the Nifty may be in between 5,655-5,710 and the resistance may be at 5,752 and the crucial resistance may be at 5,801. The support for the Nifty may be at 5,601-5,610 if it breaks the level of 5,655 and the key support for the Nifty will be 5,552”.
BONANZA PORTFOLIO (Shanu Goel): “With another day of good all round buying Nifty has managed to close above 5,650 with considerable gains, keeping the bears on the back foot. Bulls seem to be having control at the moment. However Reliance’s results in the evening and RBI’s monetary policy tomorrow will influence the short term trend of the market. Nifty is likely to consolidate within 5,500-5,700 range. Maruti Udyog Ltd results will be declared on Tuesday”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty around 5650, else from 5630 with stoploss at 5,600 for the targets of 5,700-5,720 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty today closed above the resistance of 5,650 and is poised to move towards the 200 DMA of 5,717 and is expected to close around 5,750 in this expiry. Today’s move can be taken as a short term short covering. Investors should be cautious as we are heading towards some crucial decision making which will happen tomorrow by RBI. Rate sensitive will in focus and expect high volatility as we are nearing the July expiry”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically the market is still in a typical sideways zone and we may see stiff resistance emerging around the 5,700 mark. 5,580 is also a strong support to work with. The market unfolded as expected and saw the high like a dot at 5,700 and has closed in the green. Technically I would say 5,625 is a crucial support to work with. The support for the Nifty is at 5,625 and resistance at 5,700-5,775. The crucial support on the Sensex on the downside is 18750 and resistance at 19050”.
ANGEL BROKING (Technical): “Markets opened with a neutral bias and tested intraday support level of 18,660/5,610 during the first half of the session. Positive momentum was witnessed once markets crossed resistance level of 18,766/5,645. Looking at the placement of momentum oscillators, we expect indices to test 19,132/5,740 level as mentioned in our previous report. Also, this upside movement can be supported by some of the Banking and Metals counters if they sustain above today’s high. On the downside, 18,810-18,660/5,653-5,610 levels may act as supports for coming trading session”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18,825/5,666 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,979–19,086/5,715-5,750 levels. However, if Nifty trades below 18,825/5,666 levels for the first half-an-hour of trade then it may correct up to 18,717–18,563/5,631-5,582 levels”.
BONANZA PORTFOLIOS (Puneet Kinra): “RBI monetary policy on Tuesday will play crucial role in sentiment preparation and Volatility may be seen. Nifty has resistance in 5,740-5,770 zone and support at 5650-5620 zone. Decisive price strength may be seen above 5,770 levels. In 5,770-5620 indecision among bulls and bears may be seen. For daily purpose, trend deciding level is at 5,550. If Nifty shows strength above 5,550 levels, then rally to 5,600/5,650/5,700 levels may be seen. If Nifty does not show strength above 5,550 levels then selling pressure till 5,500/5,450/5,400 may also be seen”.
SWASTIKA INVESTMART: “We can see that Nifty made a close below the 200-day SMA and is facing stiff resistance at the down sloping trend line. The momentum oscillator MACD has given a positive crossover while RSI is heading northwards. For the coming session, Nifty will face immediate resistance at 5,705/5,710. If it is able to sustain decisively above these levels then it can head towards 5,740/5,775. On lower side 5,660 is immediate support for Nifty while below this level further support for the index is at 5,630/5,580. RBI policy review will be the key event that will affect the market sentiments”.
HEM SECURITIES: “Indian equity benchmarks continued their uptrend for the second consecutive session ahead of RBI policy meet tomorrow. It was looking like a consolidation day in the first half of trade but second half looked quite strong. It seemed that the market may have priced in 25 basis points hike in key rates. For tomorrow markets are expected to be upward”.
BONANZA ONLINE: “RBI monetary policy on Tuesday will play crucial role in sentiment preparation and Volatility may be seen. Nifty has resistance in 5740-5770 zone and support at 5650-5620 zone. Decisive price strength may be seen above 5770 levels. In 5770-5620 indecision among bulls and bears may be seen. For daily purpose, Trend deciding level is 5550 .If Nifty shows strength above 5550 levels, then rally to 5600/5650/5700 levels may be seen. If Nifty does not show strength above 5550 levels then selling pressure till 5500/5450/5400 may also be seen”.
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