It seems difficult for the markets to move out of their lethargy, barring one day pop-up that raised hopes for the die-hard bulls. Nifty ended the day with a marginal loss of 0.15% after oscillating in 38 points range for the day. The final couple of hours saw some profit taking with minimum damage to the underlying structure. Momentum has slowed down on the hourly charts, but maintains its bullish bias inline with the bullish setups of daily oscillators. Volumes were anemic, and the breadth ended neutral. The acceleration in momentum after clearing the 5400 mark is clearly lacking, suggesting an extension of the range-trading activity. We maintain status-quo on our upside targets of 5650 / 5750, as well as the downside pivot of 5340.
There isn't much to take away from the sectoral moves for the session as it was a broadly mixed one. Among the gainers were shares from Healthcare (+0.38), Auto (+0.24%) and IT (+0.14%) indices; whereas selling was witnessed in Realty (-0.97%), Power (-0.82%) and Cap Goods (-0.41%) indexes. Broader market Mid-cap and Small-cap indices traded toe-to-toe with the frontline benchmark losing 0.20% each.
Bullish Setups: INFO, RIL, ACC, PWGR, GAIL, CNXBANK, TTMT
Bearish Setups: IDEA, BHARTI, HDIL
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