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Dealer’s Diary
The key benchmark indices edged higher on the back of firm Asian stocks as
well as strong second-quarter completion for US stocks. The market breadth
was strong; however, the market moved in a tight range in the positive terrain in
the morning session. Following weak opening from European stocks, the market
slipped in red during early afternoon session. Auto stocks drifted lower amid
weak auto numbers for June 2011. The indices witnessed a gradual
deceleration in the afternoon session with the market snapping a six-day
winning streak as investors booked profits after the Sensex rose more than 7%
during the proceeding six trading sessions. The market closed down with the
Sensex and Nifty losing around 0.4% each. The mid-cap and small-cap indices
closed up with gains of 0.7% and 0.8%, respectively. Among the front-runners,
DLF, Hindalco, RCom, Sterlite and Baja Auto gained 1–5%, while RIL, Bharti
Airtel, Maruti Suzuki, HUL and M&M lost 1–4%. Among mid caps, GTL, SRF,
Indiabulls finance, GTL Infra., and Himadri Chemical gained 5–7%, while
Jubilant Foodworks, Videocon Inds., Network18 Media, Sterling International
and MindTree lost 4–9%.
Markets Today
The trend deciding level for the day is 18836 / 5648 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18958 – 19154 / 5685 - 5744 levels. However, if NIFTY
trades below 18836 / 5648 levels for the first half-an-hour of trade then it may
correct up to 18640 – 18517 / 5589 - 5552 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices edged higher on the back of firm Asian stocks as
well as strong second-quarter completion for US stocks. The market breadth
was strong; however, the market moved in a tight range in the positive terrain in
the morning session. Following weak opening from European stocks, the market
slipped in red during early afternoon session. Auto stocks drifted lower amid
weak auto numbers for June 2011. The indices witnessed a gradual
deceleration in the afternoon session with the market snapping a six-day
winning streak as investors booked profits after the Sensex rose more than 7%
during the proceeding six trading sessions. The market closed down with the
Sensex and Nifty losing around 0.4% each. The mid-cap and small-cap indices
closed up with gains of 0.7% and 0.8%, respectively. Among the front-runners,
DLF, Hindalco, RCom, Sterlite and Baja Auto gained 1–5%, while RIL, Bharti
Airtel, Maruti Suzuki, HUL and M&M lost 1–4%. Among mid caps, GTL, SRF,
Indiabulls finance, GTL Infra., and Himadri Chemical gained 5–7%, while
Jubilant Foodworks, Videocon Inds., Network18 Media, Sterling International
and MindTree lost 4–9%.
Markets Today
The trend deciding level for the day is 18836 / 5648 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18958 – 19154 / 5685 - 5744 levels. However, if NIFTY
trades below 18836 / 5648 levels for the first half-an-hour of trade then it may
correct up to 18640 – 18517 / 5589 - 5552 levels.
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