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Dealer’s Diary
The Indian market witnessed a spectacular rally on Wednesday, ending its fourday
losing streak as the decline in crude price from its 2½-year high eased
macroeconomic concerns. The market opened in red to touch a two-week low,
taking cues from weak US markets. However, a sharp rally soon ensued, taking
the market in green. The market breadth was strong, indicating a broad-based
participation in the rally. The momentum continued throughout the mid and end
sessions without much volatility, thereby helping the market to end the session
at the day’s highs. The Sensex and Nifty closed higher by 2.3% and 2.2%,
respectively, while mid-cap and small-cap indices relatively underperformed,
gaining 1.4% and 1.3%, respectively. Among the front liners, JP Associates,
Hero Honda, HDFC, HDFC Bank and L&T gained 3–7%, while Tata Power and
Sterlite Industries lost 0–1%. Among mid caps, Sun Pharma, Sterlite
Technologies, JM Financial, Usha Martin and Godrej Industries gained 6–20%,
while Kwality Dairy, Essar Shipping, Himadri Chemicals, Bajaj Electricals and
Emami lost 3–5%.
Markets Today
The trend deciding level for the day is 19512/5857 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19922 – 20148/5978 - 6045 levels. However, if NIFTY
trades below 19512/5857 levels for the first half-an-hour of trade then it may
correct up to 19287 – 18876/5790 - 5669 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The Indian market witnessed a spectacular rally on Wednesday, ending its fourday
losing streak as the decline in crude price from its 2½-year high eased
macroeconomic concerns. The market opened in red to touch a two-week low,
taking cues from weak US markets. However, a sharp rally soon ensued, taking
the market in green. The market breadth was strong, indicating a broad-based
participation in the rally. The momentum continued throughout the mid and end
sessions without much volatility, thereby helping the market to end the session
at the day’s highs. The Sensex and Nifty closed higher by 2.3% and 2.2%,
respectively, while mid-cap and small-cap indices relatively underperformed,
gaining 1.4% and 1.3%, respectively. Among the front liners, JP Associates,
Hero Honda, HDFC, HDFC Bank and L&T gained 3–7%, while Tata Power and
Sterlite Industries lost 0–1%. Among mid caps, Sun Pharma, Sterlite
Technologies, JM Financial, Usha Martin and Godrej Industries gained 6–20%,
while Kwality Dairy, Essar Shipping, Himadri Chemicals, Bajaj Electricals and
Emami lost 3–5%.
Markets Today
The trend deciding level for the day is 19512/5857 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19922 – 20148/5978 - 6045 levels. However, if NIFTY
trades below 19512/5857 levels for the first half-an-hour of trade then it may
correct up to 19287 – 18876/5790 - 5669 levels.
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