FIIs were net buyers with the tune of Rs. 890.01 crore (prov. cash market fig).
The BSE 30-share Sensex was up 127.50 points or 0.68% to 18,943.14, its highest closing since 25 January 2011. The Sensex gained 208.54 points at the day's high of 19,024.18 in mid-afternoon trade. The index declined 16.07 points at the day's low of 18,799.57 in morning trade.
The S&P CNX Nifty was up 33 points or 0.58% to 5,687.25, its highest closing since 25 January 2011. The Nifty hit an intraday high of 5,709.10. The BSE Mid-Cap index rose 0.42% and the BSE Small-Cap index rose 0.12%. Both these indices underperformed the Sensex.
The market breadth was weak. On BSE, 1753 shares declined while 1262 shares advanced and a total of 84 shares remained unchanged. The breadth was strong earlier in the day.
The total turnover on BSE amounted to Rs. 3195 crore, lower than Friday's Rs. 3,290.68 crore.
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VIEWS FROM DIFFERENT BROKING HOUSES:
SKP SECURITIES: “Nifty future may face resistance at 5750-5880 and take Support at 5620-5500”.
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty extended the positive momentum to fifth consecutive day and closed the session on positive note. In last session, Nifty breached the Triangle pattern from upside and indicated about a positive short term trend. Today, Nifty vindicated its stand and closed after making a positive candle. In today’s session, there was buying aided with short covering, which finally closed with good gains and in its intraday movements breached the sanctity of it’s 200 day’s SMA level placed at 5689 along with sentimental 5700 level, which may provide good support to bulls in coming sessions. Nifty closed below the vital level of 100 day’s SMA placed at 5745 levels; although it closed above the sentimental levels of 9, 14 & 50 day’s SMA i.e., 5495, 5493 & 5494 Now these levels may act as new ranges, in coming sessions. In today’s session, VIX moved a little and closed at a little higher level of 21.02%, thus indicating more than average volatility in market in the forthcoming sessions. RSI (14) for the day was at 61.93 levels and MACD was above the signal line, thus combined together they are giving the signals that market may witness positive movement in coming session”.
FAIRWEALTH SECURITIES: “In the next session, Nifty may be in the range 5654-5726.The support for the Nifty may be at 5625 and the major support should be treated at 5608.On upper side the resistance may at around 5752 and 5778 if it goes above 5726. Bank Nifty is expected to trade in the range 11450-11700. If sustained above the range it may test 11800 and 11910 levels. Also, 11340 and 11210 may act as strong support levels”.
BONANZA ONLINE: “Trend deciding level is 5680-5700. If Nifty shows strength above 5700 level, then rally to 5750/5800/5850 levels may be seen. If Nifty does not show strength above 5700 levels then profit booking till 5650/5600/5550 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “The rally has turned the market sentiments positive. Market is likely to be volatile as settlement of March derivative contracts is due on March 31. The cash flow trend in equity market is also expected to be influenced by financial year ending on March 31”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive on Tuesday. Trade long in Nifty from current levels else from 5670 with stop loss placed below 5650 targeting 5700–5710 levels”.
PINC RESEARCH: “Nifty has a support at 5625 and 5590 whereas it may find resistances at 5710 and 5750. However, we continue to remain bullish and the next immediate target for Nifty is around 5800”.
ANGEL BROKING: “The trend deciding level for the day is 18,922/5,680 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,045–19,147/5,717–5,746 levels. However, if Nifty trades below 18,922/5,680 levels for the first half-an-hour of trade then it may correct up to 18,820–18,698/5,651–5,614 levels”.
IIFL (Amar Ambani): “The strength in the Indian market today was in contrast with a lackluster trend in Asian and European markets. The undertone has improved a little in the past few days on the back of strong FII inflows, tabling of long pending reform-centric bills in parliament and resilient world equities. This week is an important week due to the F&O expiry. A string of key economic reports will also be released this week”.
MICROSEC SECURITIES: “On an intra-day basis Nifty has a support at 5650 and is likely to face a stiff resistance near 5740. If Nifty breaks 5650, it may further go down to 5600 and then 5560. However, if it is able to sustain above 5740, the level of 5765–5795 would become the next target”.
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