market Snapshot For The Week

The Indian Stock Markets traded choppy throughout the week and remained inconsistent. Overall it was a negative session for the market which drag it more than 2% losses. Both the benchmark indices and all sectoral indices closed in the red and the stats are following:

• The Sensex was down 2.2%, and 
• Nifty was also down 2.2%, 
• The CNX Midcap index was down 1.7% , while
• BSE Smallcap index was down 2.7% ,
• BSE IT down 3.1%, 
• BSE Auto down 3.1%, 
• BSE FMCG down 6.5% , and 
• BSE Realty down 3.5% over the week. 

Intraday Markets For 07-Jan

On Thursday, market opened higher but continue third day of profit booking with selling across all the indices and close down in red. Buying interest was seen in IT whereas Banks, Realty, Auto and Capital Goods remain under heavy selling pressure. Volume for the day was slightly higher then previous trading session. Market breadth was negative. Midcap index and Small caps index closed down in red.

For the day, the level of 6015 and 5985 may act as a major support for the market and the level of 6070 and 6100 may act as a major hurdle. Market may attract buying, buying may be seen in Banks & IT.

Short term trend will turn positive above the level of 6060.

“Spot Levels” Day trader can go long on nifty above 6070 with stop loss 6040 for target 6100 / 6125 and can go short below 6015 with stop loss 6045 for target 5985 / 5960.

Nifty Intraday Trading Levels For Tomorrow 04-Jan

On Monday, market opened on positive node and traded higher in the range thru out the day; however market failed to hold major gains of the day in final hour of trading session but manage to close up in green. Major buying interest was seen in Metals whereas IT and Auto attract selling pressure. Volume for the day was lower then previous trading session. Market breadth was positive. Midcap index and Small caps index closed up in green.

For the day, the level of 6125 and 6095 may act as a major support for the market and the level of 6180 and 6210 may act as a major hurdle. Market may attract buying.

Short term trend will turn negative below the level of 6060.

“Spot Levels” Day trader can go long on nifty above 6180 with stop loss 6150 for target 6210 / 6135 and can go short below 6125 with stop loss 6155 for target 6095 / 6070."

Nifty Intraday Outlook For Monday 13-Dec

Technically the market has generated a trend reversal pattern and so we could see an up move as long as the market manages to stay above 5,760 levels.

The crucial support on the downside for the Nifty is 5,760 and resistance at 5,955-6,100. For Sensex, the crucial support on the downside is at 19,200 and resistance at 19,855 for next trading day on Monday.

Market Technical Views For 10-Dec

For the next intraday trading session, the cautious undercurrent in the market is expected to continue. Nifty closing below 5,690 and Sensex closing below 19,000 may indicate bearish market. 18,950 / 5,690 which may act as a crucial support level for coming trading session. On the upside, 19,400 / 5,810 levels may act as resistance for the day. Auto, Real-Estate and Banking heavy weights may face heavy selling pressure while selected IT and Pharma stocks may show strength. However, traders are suggested to follow the strategy of selling at rise for intraday.