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08 February 2011

MARKET REPORT - February 08, 2011: Angel Broking

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Dealer’s Diary
The benchmark indices had a positive closing post Friday's battering and
fluctuations witnessed through the course of the past week. The market had a
stable morning session but soon slipped into red. However, the indices bounced
back into green during mid-morning trade. Intraday volatility was high. Further,
the market held positive in early afternoon trade. During the last hour of trade,
immense volatility was witnessed with the market retracing sharply from
intraday high to slide into the negative zone only to rebound during the end of
the session. The Sensex ended the day up by 0.2%, while the Nifty closed flat.
The mid-cap and small-cap indices underperformed the key benchmark indices,
registering losses of 0.5% and 0.8%, respectively. Among the front liners, Hero
Honda, ITC, DLF, JP Associates and NTPC gained 2–3%, while Cipla, HDFC,
Wipro, Hindalco and L&T lost between 2–3%. Among mid caps, Havells India,
Sintex Inds, Shree Renuka Sugar, Tulip Telecom and Triveni Engineering gained
3–5%, while India Infoline, Prestige Estates, Central Bank, Jagran Prakashan
and Jyoti Lab. lost 5–6%.

Markets Today
The trend deciding level for the day is 18,065/5,404 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,153–18,269/5,432-5,468 levels. However, if NIFTY
trades below 18,065/5,404 levels for the first half-an-hour of trade then it may
correct up to 17,949–17,861/5,369-5,341 levels

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