Dear traders,
The market is likely to open gap-down but 5170-5150 should act as a strong support and we could see the Nifty bounce back from there. If the market opens at 5200 and breaches it on the downside, then it could go down to 5150.
The pre-opening session of the market begins with the Nifty and Sensex indicating a gap-down start today. The SGX Nifty is at 5250, down 39 points. Normal trading will start at 9.15 am.
The Indian market opens starts trade this morning on a negative note on the back of weak global cues. Earlier, the US markets ended lower with the Dow down 297 and Nasdaq down 77 odd points while Asia is in the red at this hour. Sensex is trading at 17395, down 85 points from its previous close, and Nifty is at 5230, down 27 points. CNX Midcap index is down 0.4% and BSE Smallcap index is down 0.1%. The market breadth is negative with advances at 189 against declines of 545 on the NSE.
Hold long positions in the market with a target of 5500 and stop loss of 5150.
After a gap-down start, the market has made a smart pullback and is now trading with minor losses following a buying spree in oil & gas and pharma sectors. Sensex is at 17454, down 26 points from its previous close, and Nifty is at 5250, down 7 points. CNX Midcap index is down 0.04% and BSE Smallcap index is up 0.1%. The market breadth is negative with advances at 529 against declines of 678 on the NSE.
For the day an important level would be 5268 above which the market will stay positive, We see support coming in at 5268 and then 5226 with resistances at 5298 and 5340.
The market is now trading with a positive bias after a smart pullback. Sensex is at 17538, up 57 points from its previous close, and Nifty is at 5276, up 18 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 672 against declines of 634 on the NSE.
At noon, the market is showing strength despite the weak opening and trading with good gains. Sensex is at 17588, up 107 points from its previous close, and Nifty is at 5291, up 33 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 768 against declines of 588 on the NSE.
By next week all negative global cues should have sorted themselves out and we could see the Nifty head towards 5700-5800 by this month end. It is likely that the market should hold 5150-5140 with strong base at 5165, he adds. We believes the Greece referendum holds the key and advises increasing exposure to equities.
The market is trading positive at this hour though it has given up some of its early gains. The broader markets are looking steady, too. Sensex is at 17544, up 63 points from its previous close, and Nifty is at 5277, up 19 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 735 against declines of 632 on the NSE.
The market is likely to open gap-down but 5170-5150 should act as a strong support and we could see the Nifty bounce back from there. If the market opens at 5200 and breaches it on the downside, then it could go down to 5150.
The pre-opening session of the market begins with the Nifty and Sensex indicating a gap-down start today. The SGX Nifty is at 5250, down 39 points. Normal trading will start at 9.15 am.
The Indian market opens starts trade this morning on a negative note on the back of weak global cues. Earlier, the US markets ended lower with the Dow down 297 and Nasdaq down 77 odd points while Asia is in the red at this hour. Sensex is trading at 17395, down 85 points from its previous close, and Nifty is at 5230, down 27 points. CNX Midcap index is down 0.4% and BSE Smallcap index is down 0.1%. The market breadth is negative with advances at 189 against declines of 545 on the NSE.
Hold long positions in the market with a target of 5500 and stop loss of 5150.
After a gap-down start, the market has made a smart pullback and is now trading with minor losses following a buying spree in oil & gas and pharma sectors. Sensex is at 17454, down 26 points from its previous close, and Nifty is at 5250, down 7 points. CNX Midcap index is down 0.04% and BSE Smallcap index is up 0.1%. The market breadth is negative with advances at 529 against declines of 678 on the NSE.
For the day an important level would be 5268 above which the market will stay positive, We see support coming in at 5268 and then 5226 with resistances at 5298 and 5340.
The market is now trading with a positive bias after a smart pullback. Sensex is at 17538, up 57 points from its previous close, and Nifty is at 5276, up 18 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 672 against declines of 634 on the NSE.
At noon, the market is showing strength despite the weak opening and trading with good gains. Sensex is at 17588, up 107 points from its previous close, and Nifty is at 5291, up 33 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 768 against declines of 588 on the NSE.
By next week all negative global cues should have sorted themselves out and we could see the Nifty head towards 5700-5800 by this month end. It is likely that the market should hold 5150-5140 with strong base at 5165, he adds. We believes the Greece referendum holds the key and advises increasing exposure to equities.
The market is trading positive at this hour though it has given up some of its early gains. The broader markets are looking steady, too. Sensex is at 17544, up 63 points from its previous close, and Nifty is at 5277, up 19 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 735 against declines of 632 on the NSE.
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