FIIs were net buyers with the tune of Rs236.29 cr (prov. cash market fig).
The BSE 30-share Sensex was up 149.25 points or 0.84% to 17,988.30. The index rose 39.75 points at the day's low of 17,878.80 in morning trade. The Sensex gained 202.33 points at the day's high of 18,041.38 in mid-afternoon trade. The S&P CNX Nifty was up 49.10 points or 0.92% to 5,413.85 after gyrating between 5,428.15 and 5,376.15 during the day. The BSE Mid-Cap index rose 0.79% and the BSE Small-Cap index rose 0.54%. Both these indices underperformed the Sensex.
The market breadth was positive. On BSE, 1581 shares advanced while 1323 shares declined and a total of 116 shares remained unchanged. The breadth was much stronger earlier in the day.
The total turnover on BSE amounted to Rs 2934 crore, lower than Rs 3221.94 crore on Monday, 21 March 2011.
SKP SECURITIES: “Nifty future may face resistance at 5500-5630 and take Support at 5320-5220”.
CANARA BANK SECURITIES (CanMoney): “Technically today Nifty broke the major resistance level of 5380 and tested the next resistance levels of 5420 but was not able to hold 5420 levels on closing basis and closed below this level. The psychological levels of 18000 in Sensex also tested but could not sustain the levels at the close of trade. Nifty also closed far below the vital resistance levels of 9 and 14 SMA placed at 5448, 5473. Nifty is trading below the 50, 100 and 200 days SMA which are placed at 5509, 5763 and 5681 respectively and these levels will be acting as the resistance in the coming days. VIX closed at 22.26% which is lesser when compared to last trading session’s value of 25.21%, thus indicating less volatility in market in the forthcoming sessions. RSI (14) for the day was at 42.77 levels and MACD was below the signal line, thus combined together they are giving the signals that market may witness ranged movement with negative bias in the coming session.”.
FAIRWEALTH SECURITIES: “Nifty is expected to trade in the range 5350-5463. If sustained below the given range it may test 5323 and 5308 level. However, 5510 and 5531 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. Pharma and Realty are expected to show strength while selected heavy weights from IT and Banking may face selling pressure”.
BONANZA PORTFOLIO (Shanu Goel): “Nifty closed with gains of over 1%.The market is expected to consolidate in a range of 5,200 to 5,650”.
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 5400 with stop loss placed below 5380 targeting 5450 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty today managed to close above 5400 with no major cues ahead. Nifty is having resistance at 5447 and 5472 while the support is there at 5,350 levels”.
GABA FINANCIAL ADVISORY (Prakash Gaba): “Technically the market is still in a typically sideways mode with strong resistance around 5,530 and strong support around 5,300. The market unfolded as expected and saw the high of the day at 5,535; technically I would like to view the market still in a typical sideways mode and 5,620 as a strong resistance to deal with. The support for the Nifty is at 5,450-5,300 and resistance at 5,530-5,620. For Sensex, the crucial support on the downside is at 18,200-17,735 and resistance at 18,500-18,752”.
ANGEL BROKING (Mileen Vasudeo): “Markets witnessed a gap up opening and then traded in a narrow range throughout the day to close in green. On the daily chart, we are observing narrow range body formation which reflects indecisiveness prevailing at current levels. Hence, in coming trading session if indices trade above 18050/5430 levels then they are likely to test 18,140-18,354/5,460-5,510 levels. On the downside, 17,792-17,710/5,350- 5,308 levels are support for the day”.
IIFL (Amar Ambani): “Be very selective in your stock picking and focus on the larger stocks. Keep your expectations a bit tempered lest you be disappointed. The short term prospects are neither rosy, nor are they dire. A range-bound yet choppy pattern may prevail for a while before any material breakout”.
MICROSEC SECURITIES: “Indian stock market continued to trade range bound and is expected to do so in near term. Nifty has a support at 5370 and is likely to face a stiff resistance near 5450. If Nifty breaks 5370, it may further go down to 5340 and then 5300. However, if it is able to sustain above 5450, the level of 5480–5520 would become the next target”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed good strength and closed above 5,400 levels with positive market breadth. If Nifty maintains above 5,400 levels then buying interest till 5,500-5,550 may be seen in coming trading days, else profit booking may be seen. For daily purpose, the trend deciding level is at 5,400. If Nifty shows strength above 5,400 level, then rally to 5,460/5,500/5,550 levels may be seen. If Nifty does not show strength above 5,400 levels selling pressure till 5,340/5,300/5,260 may also be seen”.
INDIRA SECURITIES: “For today’s trade market likely to trade in the range between 5,410-5,450 in the upper side and 5,350-5,310 in the lower side”.
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