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Dealer’s Diary
The key benchmark indices opened on a subdued note tracking weak cues from
Asian markets on continued concerns over higher oil prices and unrest in Libya.
The markets, however, recovered as the trading progressed on account of some
buying at the lower levels. The recovery was short-lived as sentiments soon
turned negative on sustained selling pressure. The indices tried to gather
momentum in afternoon trade, but it soon lost ground again in mid-afternoon
trade as European stocks fell. The market traded volatile as the key benchmark
indices traded range bound. Finally, the market snapped the gains of the last
two sessions as it ended in red with the Sensex and Nifty posting losses of 0.8%
and 0.7%, respectively. The mid-cap and small-cap indices performed relatively
better as they lost 0.1% and 0.3%, respectively. Among the front liners, ONGC,
DLF, Wipro, Reliance Infra and RCOM gained 1–2%, while Tata Power, Tata
Steel, ICICI Bank, Hindalco and SBI lost 2–3%. Among mid caps, Shree Global
Tradefin, MTNL, Alstom Projects, P&G and EID Parry gained 6–9%, while Ramky
Infra, Kirloskar Oil Engines, A2Z Maint. & Engg., REI Agro and Essar Ship Ports
lost 3–6%.
Markets Today
The trend deciding level for the day is 18340/5493 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18419 – 18510/5518 – 5541 levels. However, if NIFTY
trades below 18340 / 5493 levels for the first half-an-hour of trade then it may
correct up to 18249 – 18170/5470 - 5445 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices opened on a subdued note tracking weak cues from
Asian markets on continued concerns over higher oil prices and unrest in Libya.
The markets, however, recovered as the trading progressed on account of some
buying at the lower levels. The recovery was short-lived as sentiments soon
turned negative on sustained selling pressure. The indices tried to gather
momentum in afternoon trade, but it soon lost ground again in mid-afternoon
trade as European stocks fell. The market traded volatile as the key benchmark
indices traded range bound. Finally, the market snapped the gains of the last
two sessions as it ended in red with the Sensex and Nifty posting losses of 0.8%
and 0.7%, respectively. The mid-cap and small-cap indices performed relatively
better as they lost 0.1% and 0.3%, respectively. Among the front liners, ONGC,
DLF, Wipro, Reliance Infra and RCOM gained 1–2%, while Tata Power, Tata
Steel, ICICI Bank, Hindalco and SBI lost 2–3%. Among mid caps, Shree Global
Tradefin, MTNL, Alstom Projects, P&G and EID Parry gained 6–9%, while Ramky
Infra, Kirloskar Oil Engines, A2Z Maint. & Engg., REI Agro and Essar Ship Ports
lost 3–6%.
Markets Today
The trend deciding level for the day is 18340/5493 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18419 – 18510/5518 – 5541 levels. However, if NIFTY
trades below 18340 / 5493 levels for the first half-an-hour of trade then it may
correct up to 18249 – 18170/5470 - 5445 levels.
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