FIIs were net buyers with the tune of `220.45 crore (prov. fig.)
The BSE Sensex was down 15.58 points or 0.08% to 18,728.98. The Sensex rose 78.89 points at the day's high of 18,823.45 in morning trade. The index fell 61.96 points at the day's low of 18,682.60 in mid-afternoon trade, its lowest level since 29 June 2011. The S&P CNX Nifty was down 9.45 points or 0.17% to 5,622.45. The Nifty hit a low of 5,610.75 in intraday trade, its lowest level since 1 July 2011.
The market breadth was positive. On BSE, 1,502 shares rose and 1,412 shares declined and a total of 104 shares remained unchanged. The breadth moved between positive and negative terrain in mid-afternoon trade. Among the 30-member Sensex pack, 18 stocks declined while the rest of them gained.
FOR DETAILS, “READ HERE”.
VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty witnessed a dull movement, wherein, upside was capped on account of selling, yet lower supports were maintained. First month future was continuously at premium w.r.t. spot, thus ensured the bullishness of our market. After a range bound movement for most part of the session, Nifty settled with a modest cut. Despite a wavering movement, bulls controlled the market and despite several hiccups indices closed with positive market breadth. This may support the buying momentum in coming sessions. Nifty successfully closed above the resistances of 9, 14, 50 and 100 day’s SMA placed at 5591, 5487, 5506 & 5558 and below the 200 day’s SMA placed at 5745. These levels may act as new ranges in the coming sessions. In today’s session, VIX closed at a modest level of 18.57%, indicating average volatility in market in the forthcoming sessions. RSI (14) for the session was at 60.54 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: “Next session’s range for the Nifty may be at in between 5592-5655 and the resistance may be at 5693 if it breaks the level of 5655 and the key resistance may be at 5721 and the support may occur if it breaches the level of 5592 and the crucial support will stand at 5552.Bank Nifty is expected to trade in the range 11410-11210. Above the given range 11480 may act as strong resistance while 11130 and 11070 may act as strong support levels for Bank Nifty”.
BONANZA PORTFOLIO (Shanu Goel): “Much anticipated consolidation is taking place in the market. A correction till 5,550-5,575 levels is expected. Nifty is likely to consolidate in the range of 5,500-5,750”.
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 5630 levels, with stop loss placed at 5600, targeting 5650-5680 levels. Alternatively, trade short if Nifty fails to sustain above 5600 levels, targeting lower supports”.
PINC RESEARCH: “The subdued move for the last four days could be a part of a short-term retracement that could have started from the highs of around 5680. Our initial upside targets closer to 5700 is now achieved. As we have stated previously, Nifty should target 6050-6075 in the medium term. The current muted sideways move can be a short-lived correction to this medium term uptrend. The 200-Day EMA at 5580, which was acting as a resistance earlier, has now breached. There is a fair chance that it may act as a good support in the next few days for the Nifty. Thus in the short term, the Nifty may correct more from the current levels but we will wait and watch as the markets convey more clarity”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market unfolded weak as expected. Technically the market has still now displayed any signs of strength as yet and one weak day will spoil the structure of the market if it happens. The support for the Nifty is at 5570 and resistance at 5725. The crucial support on the Sensex on the downside is 18635-18562 and resistance at 19080”.
ANGEL BROKING (Mileen Vasudeo): “On the daily chart, for third consecutive trading session we are observing a narrow range body formation which reflects consolidation of previous gains. We maintain our previous day stance that at present, the immediate support for the indices is the upward gap area zone of 18,552-18,527/5,566-5,558 formed on June 29. On the upside, in coming trading session if indices manage to trade above 18,838/5,660 levels then they are likely to resume the uptrend and test 19,000-19,155/5,700-5,750 levels”.
IIFL (Amar Ambani): “Investors are sticking to a ‘wait-and-watch’ approach in the run up to the latest corporate results. Also, the macro-economic fundamentals haven’t changed much and policy making is still in a limbo. The only positive factor is the turnaround in FII flows. At the same time, local funds have been net sellers”.
MICROSEC SECURITIES: “The daily chart of Nifty is showing that it has moving in the range of 5600 and 5680 for last three trading sessions. We expect this range bound movement would be continuing for another few days. If Nifty breaches 5600, the short term trend would become negative and it may further go down to 5440. However a breach of 5680 would open the gate for 5760 in the extreme short term. On an intra-day basis Nifty has a support at 5600 and is likely to face a stiff resistance near 5680. If Nifty breaks 5600, it may further go down to 5560 and then 5520. However, if it is able to sustain above 5680, the level of 5710–5760 would become the next target”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18744/5631 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18806–18885/5650-5675 levels. However, if Nifty trades below 18744/5631 levels for the first half-an-hour of trade then it may correct up to 18665–18603/5606-5586 levels”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty is still trading in 5,600-5,700 range for 5 trading days. Buying momentum may be seen, if Nifty manages to trade above 5,700 levels. In 5,600-5,700 range, volatility may be continuing. Some profit booking may also be seen below 5,600 levels. For daily purpose, trend deciding level is 5,625. If Nifty shows strength above 5,625 levels, then rally to 5,650/5,700/5,750 levels may be seen. If Nifty does not show strength above 5,625 levels then selling pressure till 5,600/5,550/5,500 may also be seen”. EDELWEISS FINANCIAL ADVISORS (DERIVATIVE): “On the lower side Nifty is likely to face strong support in the vicinity of 5570-5600 level, the level (5500) which consists of the second highest OI (i.e. 59.06 lacs shares) among the Nifty put options. On the other hand on the higher side Nifty is likely to face strong resistance in the vicinity of 5680-5700 level, the level (5700) which consists of the highest OI (i.e 56.88 lacs shares) among the Nifty Call Options”.
HDFC SECURITIES: “Today, we expect the Indian Markets to open on a flat negative note. Later it could remain range-bound with a negative bias. Among the sectors, Banking stocks could underperform”.
SWASTIKA INVESTMART: “On daily charts, we can see that Nifty is stuck in a range and will face resistance at the down sloping trend line. Immediate Resistance for Nifty is seen at 5675-5705 levels whereas the major resistance is seen at 5750. As, of now we are consolidating in the band of 5605-5705. If we break 5605 decisively then some selling pressure may be seen and in that case the next support is seen at 5560”.
NIRMAL BANG SECURITIES: “The market continues to consolidate in the range of 5600-5700 in the absence of any trigger. The daily chart of nifty indicates a kind of a DOJI formation which signifies indecision in the market. The trend remains positive but if nifty slips below 5580-5565 then there is a possibility that we could see weakness emerging. Strong support seen around 5580–5565 levels and resistance at 5660, break above 5660 could bring strong momentum. Advice Cautious approach and remain very selective in buying”.
BONANZA ONLINE: “Nifty showed volatile session and closed on flat note in red. Nifty is still trading in 5600-5700 range for 5 trading days. Buying momentum may be seen, if Nifty manages to trade above 5700 levels. In 5600-5700 range, volatility may be continuing. Some profit booking may also be seen below 5600 levels. For daily purpose, Trend deciding level is 5625 .If Nifty shows strength above 5625 levels, then rally to 5650/5700/5750 levels may be seen. If Nifty does not show strength above 5625 levels then selling pressure till 5600/5550/5500 may also be seen”.
FOR TECHNICALS/DAY CALLS, “READ HERE”
No comments:
Post a Comment