Market Outlook-Angel Broking, India Research January 5, 2011

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Markets Today

The trend deciding level for the day is 20,533/6,151 levels. If NIFTY trades

above this level during the first half-an-hour of trade then we may witness a

further rally up to 20,617–20,735/6,177-6,207 levels. However, if NIFTY

trades below 20,533/6,151 levels for the first half-an-hour of trade then it may

correct up to 20,415–20,331/6,120-6,094 levels.

Dealer’s Diary
On Tuesday, the key benchmark indices edged lower amidst volatile trades,
snapping the last four days gains as profit-taking emerged. The market breadth
was negative. The indices edged higher in early trades on firm Asian markets.
However, the indices soon slipped into the red and were in negative terrain till
early afternoon trades. Later, the benchmark indices turned positive as select
heavyweights extended gains. However, the indices once again slipped into the
red in late afternoon trades. The Sensex and Nifty ended the session lower by
0.3% and 0.2%, respectively. The mid-cap index performed in line with the
Sensex and ended 0.3% lower, while there was no change in the small-cap
index. Among the front-liners, HUL, RIL, ITC, Reliance Infra and Cipla gained
2–3%, while ICICI Bank, Bajaj Auto, SBI, RCOM, and HDFC Bank lost 2–4%.
Among mid-caps, Bata India, Kwality Dairy, Peninsula Land, Kirloskar Brothers
and UTV Software gained 5-8%, while Dewan Housing, Glodyne Tech.,
Shree Ashtavinayak Cine Vision, Bayer Corp and Allahabad Bank lost ground
by 4-7%.