Today is one of those trend less days. After gaining almost
136 points yesterday, NIFTY gave up 25 points in a lackluster trade. The Nifty
witnessed an intraday movement of about 87.60 points. The closing index was 0.51 % down as compared
to the previous closing index. However, shares advanced decline ratio is 438 to
1034.
Indian Share Market Short-term trend is UP
-----------------------------------------------------
NIFTY opened at 5005.5 and couldn’t touch that level today.
From price action point of view, market did went up higher than yesterday’s
high and days low was higher than yesterday’s low. So, we can say the
short-term uptrend is still intact. Though, I would have liked it to close higher than yesterday’s close price.
This short-term up trend could continue for few more days as
the stochastics turned up from the oversold zone. And MACD signal is confirming
this as well. Important levels to watch out are: 4900 on the downside and 5000.
If market were able to cross above 5000, it could move up to 5050 and 5100. On
the downside, it could find supports at 4870 and 4820.
On the sector front, IT, Pharma, FMCG sectors performed
better with average gain of 0.7% and Banking sector dragged the index down.
Banking sector was down by 1.12%.
It appears that 4750 – 5200 is the NIFTY range for few more
weeks.
Top Five S&P CNX Nifty Shares Gainers / Losers Today:
Gainers
|
Close
Price
|
Prev.
Close
|
%
Change
|
Losers
|
Close
Price
|
Prev.
Close
|
%
Change
|
|
HCLTECH
|
407.00
|
393.35
|
3.47
|
RELCAPITAL
|
368.95
|
394.80
|
-6.55
|
|
DLF
|
224.45
|
217.95
|
2.98
|
RELINFRA
|
410.10
|
430.35
|
-4.71
|
|
GAIL
|
423.60
|
412.90
|
2.59
|
JPASSOCIAT
|
70.00
|
73.45
|
-4.70
|
|
RANBAXY
|
493.80
|
484.40
|
1.94
|
RPOWER
|
79.50
|
82.05
|
-3.11
|
|
ITC
|
197.10
|
193.45
|
1.89
|
RCOM
|
78.50
|
81.00
|
-3.09
|
Eurpean markets are also taking a breather today and are flat
after 4- 5% gain yesterday. US markets seems to be in uptrend as well.
Hopefully, we will test the 5200 level soon!
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