Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Nifty was once again subject to a sharp intraday fall led by the downgrade of India outlook by rating agency S&P resulting in a break of the lows of the past few weeks. However, the index soon climbed back above 5200 and held the cluster of support around 5180 on a closing basis. Yesterday’s fall, although marginal on the benchmark index, dented the broader markets resulting in a weak market breadth (A/D ratio of 1:2) and again attracting low volumes. Surprisingly, volatility dropped down to 18.94 as against 19.25 the previous day. Momentum indicators are unable to give a clear sense of direction due to the sideways trajectory. With today’s April series derivatives settlement day, Nifty can oscillate in a rage of 5180 to 5250 (50 hourly EMA) with a positive bias.
Barring the FMCG (+0.48%), Auto (+0.22%) and Healthcare (+0.09%) indices, all other sectoral indices ended the day in the red. Losses were led by IT (-1.48%), Realty (-1.33%) and Power (-1.28%) stocks. Broader markets underperformed the frontline benchmark index with Mid-cap index and Small-cap index losing 0.55% each.
Bullish Setups: MSIL, TTMT, GNP, COAL, RIL
Bearish Setups: DLF, IDEA, BHEL, BPCL, RCOM, JPA
No comments:
Post a Comment