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Dealer’s Diary
The key benchmark indices surged in opening trades on Tuesday on bargain
hunting after the five-day steep fall. However, the session was marked by high
volatility with the difference between the high and low for the Sensex being
around 400 points. Amidst a choppy session, wild intraday swings were
witnessed in the key benchmark indices in mid-afternoon trades. The market hit
a six-week low after a sudden sell-off in late trades, but saw an immediate
pullback to end the day on a flat note. The Sensex and Nifty ended 0.1% and
0.2% lower, respectively. The mid-cap index closed 0.7% lower, while the smallcap
index declined 0.9%. Among the front-liners, Hindalco Industries, Bajaj
Auto, SBI, BHEL and Reliance Communications gained 2-3%, while Jaiprakash
Associates, TCS, Infosys, Jindal Steel and RIL lost 2-3%. Among the mid-caps,
TV Eighteen, Gillette India, Tube Invest, State Bank of Mysore and MVL gained
3-5%, while KSK Energy, Peninsula Land, Kirloskar Oil Engines, Glodyne Tech
and Money Matters lost 5-7%.
Markets Today
The trend deciding level for the day is 19,211/5,765 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19,417–19,638/5,832–5,909 levels. However, if NIFTY
trades below 19,211/5,765 levels for the first half-an-hour of trade then it may
correct up to 18,989–18,783/5,687–5,621 levels.
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