Nifty closed at 5,545.30, up by 18.70 points or 0.34 percent over the previous day closing of 5,526.60, after witnessing a low of 5,496.35 and a high of 5,558.30. Sensex closed at 18,492.45, up by 80.04 points or 0.43 percent over the previous day closing of 18,412.41. It touched an intraday low of 18,323.44 and high of 18,527.45.
The markets’ breadth was positive. Out of 2,966 stocks traded, 1,464 stocks advanced, 1,378 stocks declined and 124 stocks remained unchanged. In Sensex, 21 stocks advanced and 9 stocks declined.
FIIs were net buyers with the tune of ` 819.41 crore (prov. fig.)
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VIEWS FROM DIFFERENT BROKING HOUSES:
HDFC SECURITIES: “Today, we expect the Indian Markets to open on a flat to positive note and remain rangebound with a positive bias. Among the sectors, Auto could do well while Banking stocks could underperform”.
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty witnessed a dull session, wherein, quick alternating movements were being witnessed. Despite the selling at higher levels, Nifty hold on to its gains and maintained the sanctity of vital 5500 level. On account of modest buying support aided with short covering, Nifty managed to close after consolidating all gains. Nifty regained the vital support level of 5500, which will support the buying momentum in coming sessions. Nifty successfully overcame the resistances of 9, 14, 50 and 100 day’s SMA placed at 5382, 5420, 5531 & 5540 and below the 200 day’s SMA placed at 5751. These levels may act as new supports in the coming sessions. In today’s session, VIX closed at a modest level of 19.49%, indicating average volatility in market in the forthcoming sessions. RSI (14) for the session was at 57.41 levels and MACD was above the signal line, thus combined together they are giving the signals that, market may witness some upward movements in coming sessions with higher volatility”.
FAIRWEALTH SECURITIES: “Next session’s range may be at between 5520-5576 and the support may be at 5495 and then the key support may treated at 5480 and the Resistance if the Nifty traded above 5576 will be 5608 which is to be treated as a crucial resistance for the day Bank Nifty is expected to trade in the range 10960-11160. If sustained above this range it may test 11210 and 11360 while 10910 and 10860 may act as strong support levels below the given range”.
BONANZA ONLINE: “Nifty showed volatile movement in a range. Volatility may be continuing till Thursday due to Nifty June future expiry in this week. On upside, Nifty may face resistance at 5600 levels and on downside support is at 5440-5400 levels. For daily Purpose, Trend deciding level is 5550 .If Nifty shows strength above 5550 levels, then rally to 5600/5650/5700 levels may be seen. If Nifty does not show strength above 5550 levels then selling pressure till 5480/5440/5400 may also be seen”.
BONANZA PORTFOLIO (Shanu Goel): “Market is expected to be volatile due to June derivative series expiry on June 30. Market is likely to consolidate within 5,300-5,600 range”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty above 5550 levels else from 5530 levels, with stop loss placed at 5500, targeting 5580-5600 levels. Alternatively, trade speculative short in Nifty, if fails to cross 5580-5600 levels, with stoploss of 5620, targeting lower supports”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market unfolded weak but climbed up to register a high at 5553 and closed positive for the day. Technically the market has run up too fast too soon and so I would not be surprised if it reacts. 5570 is a strong resistance. I would watch 5500 and trade long. The support for the Nifty is at 5500 and resistance at 5570-5659. The crucial support on the Sensex on the downside is 18300 and resistance at 18563-18857”.
IIFL (Amar Ambani): “Just when everyone was thinking about the market cracking further, there comes a pleasant surprise in the form of a four-day rally. FII flows have partly powered this rally while the Government’s move on fuel prices has also been greeted with cheers. Globally too, things haven’t really got worse, with Greece, in all probability looking like averting a default”.
MICROSEC SECURITIES: “Yesterday Nifty traded in the band of 5495 and 5560. Now it is expected to face a strong resistance at 5610. If it is able to maintain above 5610 an upward rally might carry it to 5730 in the extreme short term. However, the leading indicators (Stochastic & RSI) are giving the over bought signal of Nifty. So a short term correction to 5440 can not be ruled out. On an intra-day basis Nifty has a support at 5490 and is likely to face a stiff resistance near 5560. If Nifty breaks 5490, it may further go down to 5440 and then 5400. However, if it is able to sustain above 5560, the level of 5585–5610 would become the next target”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18,448/5,533 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,572–18,652/ 5,570–5,595 levels. However, if Nifty trades below 18,448/5,533 levels for the first half-an-hour of trade then it may correct up to 18,368–18,244/5,508–5,471 levels”.
EDELWEISS FINANCIAL ADVISORS (DERIVATIVE): “On the lower side Nifty is likely to face strong support in the vicinity of 5480-5510 level, the level (5500) which consists of the highest addition in OI (i.e. 7.92 lacs shares) among the Nifty Jun put options. On the other hand on the higher side Nifty is likely to face strong resistance in the vicinity of 5570-5600 level, the level (5600) which consists of the highest OI (i.e. 76.35 lacs shares) among the Nifty Jun Call Options”.
PADMAKSHI FINANCIAL SERVICES (Anand Kuchelan): “The Indian markets closed flat for the day with the Nifty gaining marginally by around 15 points. We expect this consolidation to continue to trade in the range 5,500-5,600 till expiry”.
NIRMAL BANG SECURITIES: “Markets continue to hold 5500-mark as buying still continues in select banking stocks and metals stocks which are currently holding the momentum. The short term trend still looks strong and positive till the June expiry. Immediate support seen at 5505/5462 and resistance at 5585 and stability above 5585 could bring into fresh buying which could drive the nifty up to 5622/5656”.
SWASTIKA INVESTMART: “On daily charts, Nifty made an Indecisive Candlestick. The candle is formed near the major resistance level of 5600. The momentum oscillator MACD is moving above the signal line but Stochastic is lying in the overbought region indicating some pressure in the market. For coming trading session, situation of indecision is prevailed in the market. It is looking weak below the levels 5550. On higher side, Nifty can face resistance at 5600 levels, immediate resistance at 5570 while support for the day can be seen at 5520/5480”.
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