20 May 2011

May 20, 2011- Dealer’s Diary -Angel Broking

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Dealer’s Diary
The key benchmark indices provisionally closed with decent gains in a volatile
trading session as index heavyweight L&T surged close to 7%. The market pared
gains soon after a firm start triggered by higher Asian equities. In the
mid-morning trade, the market trimmed gains once again to hit fresh intraday
low. A bout of volatility was witnessed in the afternoon trade as the key
benchmark indices regained positive terrain soon after slipping into the red to
hit fresh intraday lows. The market recovered in the last hour of trade, with the
Sensex and Nifty closing up by 0.3% and 0.1% respectively. However mid-cap
and small-cap indices registered loss of 0.7% and 0.5%, respectively. Among
the front liners, L&T, RIL, ONGC, TCS and M&M gained 1–6%, while RCOM,
DLF, Hindalco Inds, Tata Power and Hero Honda lost 2–3%. Among mid caps,
STC, Pantaloon Retail, KGN Inds, HMT and Kirloskar Oil Engines gained
4–11%, while Kwality Dairy, Patni Computer, Voltas, Puravankara Projects and
Orchid Chemicals lost 4–20%.
Markets Today
The trend deciding level for the day is 18,133/5,431 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,207–18,273/5,450–5,472 levels. However, if NIFTY
trades below 18,133/5,431 levels for the first half-an-hour of trade then it may
correct up to 18,067–17,992/5,409–5,389 levels.

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