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Statistics
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030. In the broader market, the BSE Mid-cap index ended down 0.6% and Small-cap index fell 1%. Market breadth ended weak with 1,778 losers and 1,036 gainers on the BSE. During the early trades, the 30-share Sensex was down 230 points at 26,550 and the 50-share Nifty was down 79 points at 7,988, below the 8,000 mark for the first time since October, 28 NSE cash turnover was at Rs. 20000.
Sectors & Stocks
On the sectoral front, BSE Healthcare index was the top loser down 2% followed by FMCG, Auto and Realty indices trading lower by 1.5% each. However, BSE Metal and Oil & Gas indices gained nearly 1% each and Bankex climbed nearly 0.2%. SBI, Axis Bank and ICICI Bank were up between 0.5-2% each. Federal Bank, Indian Bank, Union Bank of India, Bank of India and Syndicate Bank from PSU banks ended higher up to 4%. ITC lost 2.3% along while Tata Motors slipped 1.3%.
Way forward
Nifty formed a hammer pattern in today's session, If in coming session, Nifty opens with an up gap then traders may see trend reversal in Nifty. Nifty is continuously making lower top lower bottom formation from last 8 sessions. Nifty in today's session closed below 100 day moving average in a volatile session. RSI is reaching near oversold level. If in coming session Nifty trades & sustains above 8060 level then traders could expect trend reversal in Nifty, which could leads to 8350 level. If Nifty trades & sustains below 8015 level for 15 mins then traders could expect continuation of the down move up to 7980 followed by 7935 level.
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030. In the broader market, the BSE Mid-cap index ended down 0.6% and Small-cap index fell 1%. Market breadth ended weak with 1,778 losers and 1,036 gainers on the BSE. During the early trades, the 30-share Sensex was down 230 points at 26,550 and the 50-share Nifty was down 79 points at 7,988, below the 8,000 mark for the first time since October, 28 NSE cash turnover was at Rs. 20000.
Sectors & Stocks
On the sectoral front, BSE Healthcare index was the top loser down 2% followed by FMCG, Auto and Realty indices trading lower by 1.5% each. However, BSE Metal and Oil & Gas indices gained nearly 1% each and Bankex climbed nearly 0.2%. SBI, Axis Bank and ICICI Bank were up between 0.5-2% each. Federal Bank, Indian Bank, Union Bank of India, Bank of India and Syndicate Bank from PSU banks ended higher up to 4%. ITC lost 2.3% along while Tata Motors slipped 1.3%.
Way forward
Nifty formed a hammer pattern in today's session, If in coming session, Nifty opens with an up gap then traders may see trend reversal in Nifty. Nifty is continuously making lower top lower bottom formation from last 8 sessions. Nifty in today's session closed below 100 day moving average in a volatile session. RSI is reaching near oversold level. If in coming session Nifty trades & sustains above 8060 level then traders could expect trend reversal in Nifty, which could leads to 8350 level. If Nifty trades & sustains below 8015 level for 15 mins then traders could expect continuation of the down move up to 7980 followed by 7935 level.
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