The BSE 30-share Sensex was down 39.01 points or 0.2% to 19007.53. The index rose 18.80 points at the day's high of 19,065.34 in early afternoon trade. The index declined 114.14 points at the day's low of 18,932.40 in mid-afternoon trade.
The S&P CNX Nifty was down 15.10 points or 0.26% at 5,696.50.
The BSE Mid-Cap index rose 0.22%. The BSE Small-Cap index gained 0.46%. Both these indices outperformed the Sensex.
The market breadth was positive. On BSE, 1516 shares advanced while 1366 shares declined and a total of 104 shares remained unchanged. The breadth was much stronger earlier in the day.
Among the 30-member Sensex pack, 18 declined while the rest gained.
BSE clocked turnover of Rs 3023 crore, lower than Rs 3347.16 crore on Thursday, 20 January 2011.
VIEWS FROM DIFFERENT BROKING HOUSES:
BONANZA PORTFOLIO (AVINASH GUPTA): "The market is expected to consolidate in a range of 5,550/5,800. The market is expected to be volatile in view of the expiry of derivative contracts due on January 27 and the credit policy review due on January 25".
KARVY STOCKS: "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 from 5,680 levels targeting 5,730 and 5,750 levels, alternatively trade short from 5,680 levels targeting 5,650 and 5,600 levels".
GEOJIT BNP PARIBAS FINANCIAL SERVICES: "The current market situation is not seen as a best one by the investors and so they are staying sidelines till a trend emerges in the market".
CANARA BANK SECURITIES (CANMONEY): "Technically, Nifty exhibited a very busy and spectacular movement in today’s session. After breaching the sanctity of lower support levels, Nifty rose in afternoon session and closed weak below the vital resistance of 5700, which may be a positive factor for bulls in coming session. In late hours, market witnessed good addition in calls at 5,800 level. For the eleventh consecutive session, Nifty closed below its 9, 14, 50 and 100 day`s SMA level placed at 5,722, 5,818, 5,925 and 5,962 levels; these levels may act as new resistance, in coming sessions. PCR for the session was recorded at 0.86, while VIX for the day closed at moderate level of 21.03% and indicating more than average volatility in market in the forthcoming sessions. RSI (14) for the day was at 37.76 levels and MACD was above the signal line, thus combined together they are giving the signals that market may witness some ranged movement in coming session".
GLOBAL MARKET GROUP, INDUSIND BANK: "For today, let us watch Sensex and Nifty at 18,850-19,350 (5,650-5,800) with initial bias into the lower end (not ruling out extended weakness into 18,700/5,600 which should hold".
"Strategic investors can try small longs at 18,750-18,700 (5,615-5,600) and add at 18,600-18,550 (5,570-5,555) with stop below 18,500/5,540 for exit at 19,350-19,500 (5,800-5,850)".
GABA FINANCIAL ADVISORS (PRAKASH GABA): "Technically the market has a bearish pattern known as a running correction and I would not be surprised to see levels of 5,535-5,378 levels in the days to come. The market has unfolded flat and has traded in a narrow range of just 100 points the entire trading week and has closed marginally in the green".
"Technically we now head into truncated F&O expiry week with a holiday on Wednesday. The market so far has not demonstrated any strength and so far 5,625 is a crucial support until F&O expiry and as long as that holds we could see levels of 5,800 due to short covering but we need to watch crucial support of 5,625 as its would crack the market. From a trading point of view I would buy dips until 5,625 for a target of 5,800".
FOR TODAY: Supports are around 5662/5624/5600 and Resistance are around 5717/5729/5755. Trade accordingly with strict stoploss. If and only if Nifty breaks the channel of 5600-5800, only then a big move on either side is expected. Traders are suggested to trade between the range of 5640-5755.
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