Market Outlook -Angel Broking, India Research January 20, 2011

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Markets Today

The trend deciding level for the day is 19,019/5,700 levels. If Nifty trades

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

further rally up to 19,133–19,287/5,738–5,786 levels. However, if Nifty trades

below 19,019/5,700 levels for the first half-an-hour of trade then it may correct

up to 18,861–18,744/5,653– 5,615 levels.

Dealer’s Diary
The key benchmark indices slipped into the red after a firm start in yesterday’s
session as IT majors declined. The market moved into the positive zone after
hitting fresh intraday low in morning trade. The key benchmark indices moved
between gains and losses in mid-morning trade. The market firmed up in early
afternoon trade and held the positive zone in afternoon trade but reversed
direction after a sudden slide in mid-afternoon trade. The market later trimmed
losses after hitting a fresh intraday low. The key benchmark indices edged lower
in volatile trade, snapping last two days' gains, with the Sensex and Nifty, each
ending down by 0.6%. The mid-cap index closed 0.2% higher, while the smallcap
index closed up by 0.1%. Among the front liners, DLF, Sterlite Industries,
Reliance Infrastructure, Hindalco Industries and Bajaj Auto gained 2.0–3.5%,
while Infosys, L&T, SBI, HDFC Bank and Hero Honda lost 1–2%. Among mid
caps, Manappuram General Finance, ARSS Infrastructure Projects, Ruchi Soya,
SRF and Opto Circuits gained 5–9%, while Future Capital Holdings, Sintex
Industries, ING Vysya Bank, Bajaj Finance and AIA Engineering fell 3–5%.