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India Equity Research Reports, IPO and Stock News
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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Nifty ended Friday’s range bound session with marginal gains followed by a nearly unchanged session on Saturday with a very minor range. For the entire week though the markets have broadly remained in a range of 5460 to 5270. The retracement of the 7-week rally continues to be underway with second consecutive weekly loss of 1.3%, however bulls have managed to defend the 5300 mark ably in the previous week and are likely to put to test in the current week as well. Trading volumes were at the lower end of the two month trend and the market breadth was nearly neutral indicating the mixed nature of trend. Momentum indicators continue to jostle around the neutral zone, giving mixed signals. As market players await outcomes of important events (UP Election results / RBI Policy and Union Budget) in the coming couple of weeks, expect markets to remain choppy. For the short-term though crucial support and resistance for the index is pegged at 5200 and 5450.
The sectoral performance was mixed with gains coming in from Power (+0.35%), IT (+0.25%) and Banking (+0.21%) indices; and mild losses were seen in Realty (-0.38%), Auto (-0.16%) and Cap Goods (-0.15%) indices. Broader markets traded in a narrow range and ended with marginal gains of 0.22% for the Mid-cap index and 0.37% for the Small-cap index.
Bullish Setups: PWGR, HPCL, ACEM, CNXBANK, SHRS
Bearish Setups: DLF, ONGC, MSIL, LT
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