It was another volatile day for the Indian markets as the Sensex made swings through negative and positive zones. After opening in a positive zone, it immediately entered the negative zone. Sensex managed to recover in the afternoon session but only to decline in the fag end of closing. While Sensex closed at 15331 .94 down 43.10 points Nifty closed at 4564.10 down 8.20 points. Real Estate and Automobile Index were up with RBI maintaining status quo But Banking index witnessed a decline of 1.22 per cent. Other sectoral indices remained out of the limelight and ended on a flat note. But the mid-cap and small Cap indices managed to outperform the Sensex with significant gains. Market breadth was positive with 1709 advances and 945 declines.
Resistance : 4600 / 4635 / 4655 / 4685
Support : 4530 / 4515 / 4485 / 4460
Resistance : 15450 / 15585 / 16045
Support : 15280 / 15205 / 15105
Resistance : 4605 / 4645 / 4680
Support : 4535 / 4490 / 4450
NIFTY FUT OI (both series) up with increasing volumes indicating forming of short positions at higher levels.
We expect NIFTY FUT to trade volatile.
Buy NIFTY Above 4570,Sl Below 4555,Tgt 4600/20/35/60/75
Sell NIFTY Below 4545,Sl Above 4560,Tgt 4530/05/4480/65/40
APIL Above 540,Sl 530,Tgt 545/50/55/60
SCI Above 125,Sl 120,Tgt 130/35/40
RELINFRA Above 1180/85,Sl 1170,Tgt 1210/20/30/40
SBIN (1682),Sl Above 1700,Tgt 1665/55/45
INFOSYS Below 2010,Sl 2035,Tgt 1990/80/70
SAIL (177.5)
Support : 175/173
Resistance : 178/180/182/185
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