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Dealer’s Diary
The key benchmark indices slipped into the red to hit fresh intraday lows in
morning trade. The market trimmed losses in mid-morning trade as Asian
stocks rose in volatile trade. The market hovered in red in early afternoon trade.
Weakness continued in afternoon trade as European stocks declined in early
trade on caution ahead of the release of European bank stress tests results.
The market trimmed intraday losses in mid-afternoon trade as index
heavyweight RIL rose. The market moved in a tight range in the negative terrain
in late trade. The Sensex and Nifty closed with losses of 0.3% each. The
mid-cap index ended lower by 0.1%, while the small-cap index closed with
gains of 0.1%. Among the front runners, TCS, Mahindra & Mahindra, RIL,
Wipro and HDFC Bank gained 1–2%, while Tata Motors, Sterlite Inds, ONGC,
Cipla and HDFC lost 1–3%. Among mid caps, SKS Microfinance, Amara Raja,
A2Z Maint & Engg, Shree Global Trd and MOIL gained 4–10%, while Anant Raj
Inds, Shree Renuka Sugars, Bajaj Holdings, JM Financial and Glodyne Tech lost
3–6%.
Markets Today
The trend deciding level for the day is 18,671/5,592 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,828 – 19,094/5,621 – 5,661 levels. However, if NIFTY
trades below 18,671/5,592 levels for the first half-an-hour of trade then it may
correct up to 18,405 – 18,247/5,552 – 5,523 levels.
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