FIIs were net sellers with the tune of Rs 97.02 cr (prov. cash market fig).
The BSE 30-share Sensex was down 39.76 points or 0.22% to 17,839.05, its lowest closing since 28 February 2011. The Index slipped 86.64 points at the day's low of 17,792.17 in morning trade. The Sensex gained 128.92 points at the day's high of 18,007.73 at the onset of the trading session. The S&P CNX Nifty was down 8.95 points or 0.17% to 5,364.75, its lowest closing level since 28 February 2011. The Nifty hit a low of 5,348.20 in morning trade. The BSE Mid-Cap index slipped 0.27% and the BSE Small-Cap index declined 0.29%. Both these indices underperformed the Sensex.
The market breadth was weak. On BSE, 1698 shares declined while 1212 shares advanced and a total of 102 shares remain unchanged. The breath was positive earlier in the day. Among the 30-member Sensex pack, 17 declined while the rest of them gained.
The total turnover on BSE amounted to Rs. 3041 crore, lower than Rs. 3234.25 crore on Friday, 18 March 2011.
FOR DETAILS, “READ HERE”.
VIEWS FROM DIFFERENT BROKING HOUSES:
SKP SECURITIES: “Nifty may face resistance at 5440-5500 and take Support at 5320-5220”.
FAIRWEALTH SECURITIES: “Nifty is expected to trade in the range 5323-5446. If sustained below the given range it may test 5308 and 5263 level. However, 5510 may be considered as another resistance level. Bank Nifty is again expected to trade in the range 10660-10860. Still, 10550 may act as a crucial support level. 10990 might be another resistance level. Metals and Oil & Gas are expected to show strength while IT and Realty may appear weak”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive on Monday. Trade long in Nifty from current levels else from 5350 with stop loss placed below 5330 targeting 5400–5420 levels”.
ADITYA BIRLA MONEY (MONEY WEEKLY): “Having broken the crucial support at 5400, next support for the market is 5300. It is likely to face resistance around 5410 & 5480 levels”.
ICICI SECURITIES: “The Indian markets are expected to open positive on account of positive Asian cues. Following Asian cues, Indian markets are expected to open positive with supports for the Sensex at 17,850 and 17,710 and resistance at 18,060 and 18,260. The Nifty has its support at 5,360 and 5,330 and resistance at 5,430 and 5,460”.
PINC RESEARCH: “We suggest a wait and watch approach for the next few days as long as the level of 5600-5625 is not breached. We see no reason yet to revise our short term positive bias for the market. Daily support is at 5350/5300 and resistance is at 5400/5460”.
ANGEL BROKING (Mileen Vasudeo): “Markets have been oscillating in the range of 17,470/5,233 on the downside and 18,737/5,608 on the upside since the past six weeks. Now on the daily chart, we see probability of a pattern that resembles a ‘Pennant’. At present, prices are near the lower trend line of the pattern and any close below 17,700/5,300 levels would confirm the pattern. In case such a breakdown occurs, the indices are likely to test prior lows of 17,295/5,177 or may even extend further. On the upside, resistance is at 18,310-18,490 and 18,736/5,500-5,550-5600 levels. Any close below the higher low of 17,470/5,233 levels would mean continuation of the ongoing downtrend on the weekly charts”.
IIFL (Amar Ambani): “The fact that the key indices are still trading below their 200-DMA is a big worry. Even if they do manage to surpass the key technical levels, there is no immediate certainty about the near term direction of the market. Among the major domestic concerns has been lack of meaningful progress on reforms amid a series of controversies. FII inflows too are yet to turn around”.
JRG SECURITIES: “Index may move sideways between the support 5,368 and the first major resistance at 5,436. Any major movement is possible only on break of these levels. The upside above 5,436 is limited to a maximum target of 5,460 wherein any downside movement below 5,368, may pull the index towards the major support at 5,340”.
MANSUKH BROKING HOUSE: “Below 5,670 (200 dma) sentiments remain subdued and we might see some sharp drift near to 5,200-5,250. Exactly to our expectations spot index continued to find support around the same. We likely to continue this approach in the upcoming week and expecting a slightly range bound scenario between 5,200-5,670. Hence traders are advised to remain cautious at this stage and use 'sell on rally' strategy rather than creating any fresh long ones. On the flip side any bounce back from current levels may reap indices towards 5,630-5,650 level where we might see some sort of consolidation. Any break out above this may generate some suggestive buying opportunities though 5,800-5,850 might be the next resistance zone”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty is trading in range for many days and volatility is being seen on daily basis. On Monday, Nifty also showed volatile session and closed on a flat note. Nifty has resistance in 5410-5430 range and support in 5,360-5,340 range. In this area, volatility may be continuing. For daily purpose, the trend deciding level is at 5,370. If Nifty shows strength above 5,370 level, then rally to 5,410-5,430/5,500 levels may be seen. If Nifty does not show strength above 5,370 levels selling pressure till 5,340/5,300/5,260 may also be seen”.
FOR TECHNICALS, “READ HERE”
No comments:
Post a Comment