FIIs were net sellers with the tune of ` 691.22 crore (prov. cash market fig).
The BSE 30-share Sensex was down 188.91 points or 0.97% to 19,262.54, its lowest closing level since 29 March 2011. The Sensex shed 208.86 points at the day's low of 19242.59 in late trade. The index fell 25.15 points at the day's high of 19,426.30 in morning trade. The S&P CNX Nifty was down 56.30 points or 0.96% to 5,785.70, its lowest closing level since 29 March 2011. The Nifty hit low of 5,777.90 in late trade. The BSE Mid-Cap index fell 0.7%. The BSE Small-Cap index also declined 0.71%. Both these indices outperformed the Sensex.
The market breadth was weak. On BSE, 1751 shares declined while 1138 shares advanced and a total of 85 shares remained unchanged.
Among the 30-member Sensex pack, 22 declined while the rest advanced. On the NSE, advances are at 398 against declines of 898.
BSE clocked turnover of ` 2536 crore, lower than ` 2588.21 crore on Friday, 8 April 2011.
FOR DETAILS, “READ HERE”.
VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty exhibited second day of big cut and closed after breaching the support of 5800, its fourth negative closing in last fourteen session. Today, Nifty witnessed further deterioration in positive push and again closed the day below 5800. This may spur cautious sentiments among the buyers. Today, despite initial positives, bears finally outnumbered bulls in broader indices. Owing to selling pressure, Nifty failed to maintain its closing above 9 day’s SMA placed at 5852, but maintained its closing above the sentimental levels of 14, 50 & 100 day’s SMA 5768, 5528 & 5709. These levels may act as new ranges, in coming sessions. In today’s session, VIX improved a little and recorded at 21.24%, indicating more volatility in market in the forthcoming sessions. RSI (14) for the session was at 58.54 levels and MACD was above the signal line, thus combined together they are giving the signals that market may witness some consolidation in coming sessions is more likely”.
FAIRWEALTH SECURITIES: “The range for the Nifty may be 5752-5810 with the resistance at 5830 and 5863 at the most and the support for the Nifty may be at 5696 and 5640 for the day. Try to liquidate the long position at every rise. In the next session, Bank nifty is expected to trade in the range 11550-11780. Also, 11861 might be strong resistance level for Bank Nifty while 11430 and 11280 might act as other support levels”.
KARVY STOCK: “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 current levels else from 5800 with stop loss placed above 5830 targeting 5750 and 5730 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “ .... ‘technically the market looks tired and may see some more profit booking in the days to come’ the market unfolded as expected and profit booking pulled the market down…technically no sign of strength as yet and we may see some sluggishness in the days to come… The support for the Nifty is at 5717 and resistance at 5870. The crucial support on the Sensex on the downside is 19040 and resistance at 19550”.
ANGEL BROKING (Mileen Vasudeo): “Markets opened lower and traded with negative bias throughout the day to close in red. On the daily chart, we are observing that prices are moving closer to the 200-day SMA (19,048/5,700 levels) which is the immediate support for the indices. In coming trading session if indices trade below 19,245/5,777 levels then they are likely to test 19,150-19,050/5,750-5,700 levels. On the upside, 19,426-19,540/5,830-5,875 levels may act as resistance for the day”.
IIFL (Amar Ambani): “Key indices extended their losses for the fourth trading session. The market breadth remained weak after India’s February IIP recorded a growth of 3.6% as against the revised IIP for January at 3.9%. A spurt in international crude oil prices added to the negative sentiment. Market participation was understandably lower on account of a truncated week of trading”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed selling pressure for 5th consecutive day closed in red. India’s industrial output slowed in February to 3.6% from revised 3.9% in January which also affected sentiment a lot. Sentiment in coming days may be dependent upon crude prices and Jan-Mar FY11 result. Until Nifty manages to show strength above 5,825-5,840 levels selling pressure may be continuing. However, Nifty also has support in 5,700-5,750 area, which means Nifty, may also trade with in 5,700-5,850 range with volatility. For daily purpose, trend deciding level is at 5,790. If Nifty shows strength above 5,790 levels, then rally to 5,825-5,840/5,900/5,950 levels may be seen. If Nifty does not show strength above 5,790 levels then profit booking till 5,750/5,700/5,650 may also be seen”.
FOR TECHNICALS, "READ HERE"
No comments:
Post a Comment