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Market Commentary:-
It was on of the highly volatile day of the Indian equity markets as the indices touched the peaks and trough on regular basis. In the morning, with Asian markets remaining weak, Indian markets opened in positive zone but on a flat note. But after it tumbled in half an hour as the Chinese markets crumbled. Afterwards the market remained in negative zone though out the session. Amid high volatility while the Sensex closed at 14809 (Down 225.62 points) Nifty closed at 4394 (Down 64.80 points). On the sectoral front all the Indices closed in red with Oil, Metals and Auto leading the fall. Market breadth was negative with 1490 declines as compared to 1134 advances.
NIFTY (4394.1)
Resistance : 4440 / 4475 / 4535
Support : 4340 / 4285 / 4260 / 4220
SENSEX (14809.64)
Resistance : 15045 / 15275
Support : 14630 / 14450
NIFTY FUT (4386) : NIFTY Has A Short Term Resistance Around 4425/45 Levels & Supports Around 4320/40 Levels
Resistance : 4460 / 4480 / 4530
Support : 4360 / 4330 / 4270 / 4240
On Thursday,Opening Is Flat To Positive,
Buy NIFTY Above 4440,Sl 4420,Tgt 4475/4500/25/45
Sell NIFTY Below 4415,Sl 4435,Tgt 4380/55/30/10
MKT COMMENTS
NIFTY FUT OI up 2.28% with 17% increasing volumes indicating forming of short positions.
We expect NIFTY FUT to trade volatile.
RELIANCE
Can Touch 1840/1740 In Near Term
Above 1840,Tgt 1900. Above 2200,Tgt 2600/3000
Below 1740,Tgt 1400
BUY
GTLINFRA Above 34,Sl 32,Tgt 37/39/41
SCI Above 120,Sl 115,Tgt 130/35/40
PRAJIND Above 85,Sl 80,Tgt 90/95+
SELL
ESSAROIL Below 130,Sl 135
CENTURYTEXT Below 405,Sl 410,Tgt 400/395/390+
SBIN (1691),Sl Above 1715,Tgt 1660/50
BUY YESBANK Fut@ 160,Sl 157,Tgt 162/65/67

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