Nifty closed in negative after 4 sessions of Up move :: HDFC Sec

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Statistics

The 30-share Sensex ended 195 points lower at 27,506, while the 50-share Nifty closed down 57 points at 8,267. In the broader market, BSE midcap index performed better than the front-liners with a loss of 0.3% while BSE smallcap index underperformed with a loss of around 0.6%. Market breadth in BSE ended weak with 1,850 declines against 1,072 advances. NSE cash turnover was at Rs. 13498.

Sectors & Stocks

All the sectoral indices ended weak. BSE Metal index, down around 2%, lost the most followed by BSE Consumer Durables and Capital Goods indices which lost around 1.4% each. However, a handful of stocks stood out for their positive performance in a dull market.  NTPC gained around 3%. Cipla gained around 2%. Bajaj Auto gained around 2%. ICICI Bank lost more than 1.5% while Axis Bank lost around 06% and SBI lost 0.3%. RIL and ONGC lost more than 1% each while GAIL ended higher by 0.3%.

Hang Seng and Shanghai Composite indices ended the day lower losing 0.3% and 3% each. FTSE 100 and CAC 40 indices have gained around 0.1% and 0.2%each while German DAX is marginally down

Way forward

Nifty is making higher top higher bottom formation from last 4 session with two up gaps. In today's session it did not closed in positive after facing resistance at 8360 level. If  in coming session Nifty trades & sustains  above 8250 level then traders could expect continuation of up trend in Nifty, which could leads to 8360 level. If Nifty  trades & sustains below 8250 level for 15 mins  then traders could expect down move up to 8215 followed by 8160 level.