FIIs were net buyers with the tune of ` 432.95 crore on Monday, the 11h July 2011(prov. fig.)
The BSE Sensex shed 136.65 points or 0.72% to settle at 18,721.39, its lowest closing level since 29 June 2011. The Sensex fell 14.07 points at the day's high of 18,843.97 in early trade. The index slipped 178.55 points at the day's low of 18,679.49 in late trade. The S&P CNX Nifty was down 44.55 points or 0.79% to 5,616.10, its lowest closing level since 29 June 2011. The Nifty hit a low of 5,601.70 in intraday trade. The BSE Mid-Cap index slipped 0.31% and the BSE Small-Cap index fell 0.42%. Both these indices outperformed the Sensex.
The market breadth was negative. On BSE, 1,568 shares declined and 1,324 shares gained and a total of 120 shares remained unchanged. The breadth was positive earlier in the day.
FOR DETAILS, “READ HERE”.
VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty witnessed a corrective movement, wherein, selling was supported with volumes at all levels. After breaching the vital support of 5700 in last session, in today’s session, Nifty breached vital support of 5650, thus depicting some concerns. After a range bound movement for most part of the session, Nifty settled with a modest cut. Bears determinedly controlled the market and indices closed with negative market breadth with illustrious margins. This may support the selling sentiments in coming sessions. Nifty breached the vital support of 9 day’s SMA placed at 5643 but managed to close above the resistances of 14, 50 and 100 day’s SMA placed at 5566, 5501 and 5565. These levels may act as new ranges in the coming sessions. In today’s session, VIX closed at a modest level of 19.69%, indicating average volatility in market in the forthcoming sessions. RSI (14) for the session was at 55.71 levels and MACD was above the signal line, thus combined together they are giving the signals that, market may witness some range bound movement with higher volatility”.
FAIRWEALTH SECURITIES: “Nifty traded in the range 5601-5653 and settled at 5516. Nifty has confirmed the covered clouding pattern. Nifty has closed above given support level 5608. Nifty is expected to consolidate in a range for few trading sessions. Next session’s range for the Nifty may be 5592-5669. The resistance may be at 5693 and the crucial resistance for the Nifty may at 5729. The support for the Nifty may at 5571 and key support for the Nifty may be at 5552 Bank Nifty is expected to trade in the range 11050-11260. Above the given range 11330 and 11410 may act as strong resistance while 10930 may act as strong support level for Bank Nifty”.
BONANZA PORTFOLIO (Shanu Goel): “Nifty has a strong resistance at 5,750-5,760 levels. Result season has started and market sentiments are likely to be affected by the corporate results outcome. On the downside, Nifty has support around 5,550 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 long in Nifty above 5,600 levels, targeting 5,630-5,650 levels, with stoploss placed at 5,580. Alternatively, trade short below 5,580 levels, with stoploss placed at 5,600, targeting 5,550-5,530 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “Nifty today came to a close for the day fortunately above 5,600. But the under current seems to be negative and tomorrow being crucial due to Infosys numbers, the markets will be highly volatile till the result is out. For Nifty the major resistance is there 5,662 and 5,701 while the support is there at 5,584 and 5,542 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market unfolded exactly as expected and a down has come in and found support at our support of 5600 like a dot. Technically the market should be down for the next few days unless a sharp reaction takes it up to maximum 5650. The support for the Nifty is at 5532 and resistance at 5650. The crucial support on the Sensex on the downside is 18437 and resistance at 18815”.
IIFL (Amar Ambani): “A confluence of negative factors came together to drag the Indian markets lower for the second day in a row. Chief among them was the nervousness before the all-important results of IT giant Infosys. Market participants also displayed anxiety ahead of the release of the IIP data and inflation report later this week. On the global front, the US jobs data on Friday came in much below expectations while inflation in China hit a three-year high. In addition, problems for the eurozone don’t seem to be ending amid concerns that the debt crisis may affect much bigger economies like Italy and Spain”.
MICROSEC SECURITIES: “The daily chart of Nifty is showing that it has been taking support near 5600 for last eight trading sessions. So 5600 become a short term crucial base of Nifty. If Nifty breaches 5600, the short term trend would become negative and it may further go down to 5520 and then 5470. However a breach of 5745 would open the gate for 5900 in the extreme short term. Traders are advised to maintain a stop loss at 5600 of the long positions. On an intra-day basis Nifty has a support at 5600 and is likely to face a stiff resistance near 5665. If Nifty breaks 5600, it may further go down to 5570 and then 5520. However, if it is able to sustain above 5665, the level of 5700–5745 would become the next target”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18,748/5,624 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,187–18,913/5,645-5,675 levels. However, if Nifty trades below 18,748/5,624 levels for the first half-an-hour of trade then it may correct up to 18,653–18,584/5,594-5,572 levels”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed selling pressure for the second consecutive day and closed in red with lower volumes. IT sector major leader INFY first quarter FY12 results may play important role in sentiment preparation on Tuesday. Nifty may trade in 5,500-5,800 range for next few days. For daily purpose, the trend deciding level is at 5,600. If Nifty shows strength above 5,600 levels, then rally to 5,650/5,700/5,750 levels may be seen. If Nifty does not show strength above 5,600 levels then selling pressure till 5,550/5,500/5,450 may also be seen”.
INDIRA SECURITIES: “On Monday selling pressure across all major sectors and weak global cues took their toll on the markets and both benchmark indices closed with substantial losses. Realty was the biggest loser of trade and was closely followed by IT, metal and banking. Consumers durables and FMCG along with oil & gas tried to support the indices and closed with marginal gains. For today’s trade, market likely to trade in the range between 5630 & 5650 in the upper side and 5600 & 5580 in the lower side”.
EDELWEISS FINANCIAL ADVISORS: “SGX Nifty is suggesting about 60 points lower opening for our market. Yesterday we had indicated that 5610, the bottom of last week, is the immediate support to watch out for in Nifty, a breach of which can take the benchmark to about 5500 where 20 as well 34 day simple moving averages are placed. The benchmark indeed broke the 5610 support in last hour of trade by touching a low of 5602. We had advised our patrons to hedge or cut the trading long positions when Nifty broke 5610 support intraday through our internal messenger. The same advice continues”.
NIRMAL BANG SECURITIES: “The short term trend is slightly turning negative but strong support is placed at its important 45-day EMA of 5551 where buying could emerge. This current uptrend could damage only if nifty starts trading below 5490 levels, till then any sharp decline could be considered as a trading buying opportunity. On the higher side, resistance may be seen around 5660–5690 levels. For the Sensex support exits at 18620-18480 levels and resistance seen at 18860-18895 levels and fresh rally could be seen only above 19000”.
SWASTIKA INVESTMART: “On daily charts, we can see that after the formation of dark cloud cover (bearish pattern) on Friday, Nifty has shown downward movement towards 5,600 levels yesterday. The momentum oscillator RSI has started moving southwards indicating further bearishness. Now, if Nifty closes below the support zone near 5,605, made by joining the multiple tops then we can see the index falling towards 5,550 levels. Immediate Resistance for Nifty is seen at 5,650-5,675 levels for the day whereas Immediate Support for Nifty is seen at 5,570 levels whereas the major support is seen at 5,540-5,500”.
FOR TECHNICALS/DAY CALLS, “READ HERE”
No comments:
Post a Comment