FIIs were net sellers with the tune of ` 3028.05 crore in the last week whereas DIIs are the net buyers of ` 2156.09 crore.
The BSE Sensex was down 71.11 points or 0.42% to 17,059.40, its lowest closing level since Tuesday, 9 August 2011. The Sensex rose 77.31 points at the day's high of 17,207.82 in early afternoon trade. The index fell 117.56 points at the day's low of 17,012.95 in morning trade. The S&P CNX Nifty was down 22.70 points or 0.44% to 5,138.30, its lowest closing level since Tuesday, 9 August 2011. The Nifty hit a high of 5,184.95 in intraday trade. The Nifty hit a low of 5,121 in intraday trade. The BSE Mid-Cap index fell 0.16% and the BSE Small-Cap index declined 0.19%. Both these indices outperformed the Sensex.
The market breadth was negative. On BSE, 1,488 shares fell while 1,338 shares rose and a total of 108 shares remained unchanged. The breadth alternately moved between positive and negative zone during the second half of the trading session. Among the 30-share Sensex pack, 21 fell and the rest rose.
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VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open in the green following positive global cues and inch up further during the day. Among the sectoral indices, Metals could outperform while Auto stocks look weak”.
BONANZA ONLINE: “Nifty showed selling pressure from resistance near 5200 levels and closed in red. Nifty is trading in 5200-5120 range for last two trading days. Buying momentum may be seen of Nifty maintains above 5200 levels decisively on the other hand, if Nifty decline below 5120 levels then selling pressure may resume. For daily purpose, Trend deciding level is 5120-5130. If Nifty shows strength above 5130 levels, then rally to 5170-5200/5250/5300 levels may be seen. If Nifty does not show strength above 5120 levels then selling pressure till 5070/5000/4950 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “Nifty continues to trade in a bearish to sideways trend. Global developments are playing a pivotal role in sentiment preparation. After recent slide of almost 600 points, some consolidation is on the cards for Nifty. Below 5,100, Nifty support is placed at 5,050 and then 4,950”.
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 above 5,130 levels else around 5,100 levels, with stop loss at 5,080, targeting 5,180-5,200 levels. Alternatively, trade short if Nifty slips below 5,080 with stoploss at 5,100 targeting lower support levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty moved in a very short range today and closed with minor loss. For Nifty to witness strong buying support, it has to close above 5,200 marks. Still it is facing resistance at 5,200 and 5,250 while the support is there at 5,100 and 5,050 levels”.
GEPL CAPITAL: “Nifty is now placed very close to an important resistance level of 5239. The minimum bounce back that was required after the drastic fall from 5700 odd levels till the recent low has almost been achieved. If it manages to surpass the level of 5239 we may see further upside till 5324 over the course of next few days. We recommend a strategy of exiting from pending stuck up long positions in that range rather than add fresh long positions. There is a possibility that the present bounce back may not sustain and we may witness another round of sell off which may take it down close to the low of 4946 over the course of next couple of weeks”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market unfolded flat and has closed marginally in the red. I would say the market may make an attempt to touch 5200 but in all fairness a close below 5100 is really encouraging for the market. The support for the Nifty is at 5000 and resistance at 5250-5340. The crucial support on the Sensex on the downside is 17000 and resistance at 17500-17737”.
IIFL (Amar Ambani): “Technically, the Nifty faced some resistance as the index approached 5,200 levels. A close above 5,200 would see bulls return with renewed vigour. However, given the tricky situation in the overseas markets and local macro-economic headwinds, it would be wise to remain cautious and stay stock specific”.
MICROSEC SECURITIES: “Nifty has been moving in the narrow band of 5120 and 5200 for last couple of days. Now we expect Nifty to move in the range of 4940 and 5330 in the short term. If Nifty breaches 4940, the short term trend would become negative and it may further go down to 4720. However, a breach of 5330 would open the gate for 5500 in extreme short term. On an intra-day basis Nifty has a support at 5100 and is likely to face a stiff resistance near 5180. If Nifty breaks 5100, it may further go down to 5070 and then 5025. However, if it is able to sustain above 5180, the level of 5220–5250 would become the next target”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 17,093/5,148 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,174–17,288/5,175–5,212 levels. However, if Nifty trades below 17,093/5,148 levels for the first half-an-hour of trade then it may correct up to 16,979–16,899/5,111–5,084 levels”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed selling pressure from resistance near 5200 levels and closed in red. Nifty is trading in 5,200-5,120 range for last two trading days. Buying momentum may be seen if Nifty maintains above 5200 levels decisively; on the other hand, if Nifty decline below 5120 levels then selling pressure may resume. For daily purpose, the trend deciding level is 5,120-5,130. If Nifty shows strength above 5130 levels, then rally to 5,170-5,200/5,250/5,300 levels may be seen. If Nifty does not show strength above 5,120 levels then selling pressure till 5,070/5,000/4,950 may also be seen”.
INDIRATRADE SECURITIES: “It was rangebound trade in the markets on Thursday and both benchmark indices closed at the lower level of the range. For today’s trade market likely to trade in the range between 5170 & 5195 in the upper side and 5110 & 5030 in the lower side”.
HEM SECURITIES: “Volatility was the hallmark of the day's trade as key benchmark indices once again slipped into the red in late trade as data showing acceleration of food inflation in late July 2011 hurt investor sentiment. For tomorrow, markets are expected to be sideways”.
INVENTURE GROWTH & SECURITIES: “5,200 remains a major hurdle for nifty where most of the supply is seen coming in the market. Immediate support on downside remains at 4,960 - 5,140 levels and major resistance on upside comes at 5,330 levels".
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