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Markets Today
The trend deciding level for the day is 19926/5972 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20028–20121/6005–6034 levels. However, if NIFTY trades
below 19926/5972 levels for the first half-an-hour of trade then it may correct
up to 19833–19731/5944-5911 levels.
Dealer’s Diary
The key benchmark indices edged lower in a volatile trading session, with
banking stocks losing ground for the second day in a row. The market breadth
was weak. Intraday volatility was high right from the onset of the trading
session. The key benchmark indices swung between gains and losses in early
trade. Volatility continued as indices weakened once again in mid-morning
trade. The market lost ground after recovering sharply from the day's low to turn
positive for a brief period in mid-afternoon trade. The market ended the session
in red with the Sensex and Nifty closing down by 0.2% and 0.3%, respectively.
BSE mid-cap and small-cap indices fell down by 1% and 1.7%, respectively.
Among the front liners, Hindalco Inds, NTPC, Maruti Suzuki, ONGC and Bajaj
Auto gained 1–3%, while ICICI Bank, SBI, DLF, JP Associates and Tata Motors
lost 2–4%. Among mid caps, Amtek Auto, Pfizer, S Kumars Nation, Jain
Irrigation and Coromandel International gained 4–8%, while Allahabad Bank,
IRB Infra, Manappuram General Finance, United Bank and Emami lost 5–7%.
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