STOCK MARKET REVIEW
CNX Midcap index was down 1.27% about while BSE small cap index also lost 2.23%. The BSE Sensex ended at 16,990 losing 315 points. It had earlier touched a day's high of 17,247 and a day's low of 16,759 the renewed 52 week low. It opened at 16,907. The NSE Nifty closed at 5,119 losing 93 points it also touched the new 52 week low of 5,054.05.\
Today’s decline was mainly led by a selloff in Realty, IT, Telecom and Metals stocks. Power and Banking were other notable losers. Overall, the trade was highly negative with all the sectoral indices ending in the red. The Mid-Cap and the Small-Cap indices also witnessed heavy offloading.
Today’s Nifty Top gainers were:
HEROMOTCO with volume and changes 4,46,162 and 3.85 %
M&M with volume and changes 25,64,829 and 2.70 %
PNB with volume and changes 3,20,716 and 2.27 %
Today’s Nifty Top losers were:
RELCAPITAL with volume and changes 19,66,585 and 7.68 %
HINDALCO with volume and changes 1,30,43,500 and 7.52 %
RPOWER with volume and changes 35,39,651 and 7.31 %.
Nifty can be expected to follow up trend. It seems to be vary between 4995-5195
SHARES TO PICK:
GMR INFRA
GMR INFRA Script has traded in heavy volume on MONDAY. Shares closed the today’s session at 29.45. Support and resistance levels for the share for the next trading session are:
Resistance 1-31
Resistance 2- 36
Support 1- 26
Support2- 23
JUBILANT LIFE SCIENCES
Jubilant Life Sciences has seen trading within the range of 199 to 185 on MONDAY. Expected levels for this script are as follow:
Resistance 1-200
Resistance 2- 205
Support 1- 186
Support 2- 180
NIFTY SPOT LEVEL
The Nifty Index opened at 5,083.85 and finally closed at 5,118.50 rallying down 92.75 points (1.78%). The Nifty high and low of the day were 5,204.20 and 5,054.05 respectively.
The Nifty Futures made a down rally of 92.75 points or (1.78%) and finally settled at 5,118.50. The 30-share BSE Sensex was trading at 16,990.18 down 315.69 points. Today’s decline was mainly led by a selloff in Realty, IT, Telecom and Metals stocks. Power and Banking were other notable losers. Overall, the trade was highly negative with all the sectoral indices ending in the red. The Mid-Cap and the Small-Cap indices also witnessed heavy offloading.
Market seems to be strongly trades between 5045-5150 in narrow perspective and in broad perspective it seems to be vary between 4995-5195
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 5045 Support 2: 4995
Resistance 1: 5150 Resistance 2: 5195
BANK NIFTY FUTURES
Bank Nifty closed at 10267 down by 80
Bank Nifty Futures seems to be strongly trades between 10050–10375 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9930-10500.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 10050 Support 2: 9930
Resistance 1:10375 Resistance 2: 10500
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