The FIIs were net sellers with sales worth Rs 270.38 Cr (prov. cash market fig)
The BSE Sensex closed below the psychological 19,000 mark, having alternatively moved above and below that mark in intraday day. The 50-unit S&P CNX Nifty settled below 5,700 level.
The key benchmark edged lower in volatile trade, snapping last two days' gains, weighed down by weak European stocks and lower US index futures. Index heavyweights Reliance Industries (RIL) extended losses in late trade. IT and capital goods stocks declined. FMCG and consumer durables stocks reversed initial gains. Bajaj Auto gained in volatile trade as Q3 net profit surged.
The BSE 30-share Sensex was down 113.73 points or 0.6% to 18,978.32, off close to 190 points from the day's high and up close to 80 points from the day's low.
The Index rose 75.01 points at the day's high of 19,167.06 in early afternoon trade and then the Index fell 193.49 points at the day's low of 18,898.56 in late trade. The S&P CNX Nifty was down 33 points or 0.58% at 5,691.05.
The BSE Mid-Cap index rose 0.15%. The BSE Small-Cap index gained 0.09%. Both these indices outperformed the Sensex.
The market breadth, was positive. On BSE, 1,447 shares advanced while 1,432 shares declined and a total of 116 shares remained unchanged. The breadth was much stronger earlier in the day. Among the 30-member Sensex pack, 21 declined while the rest rose.
BSE clocked turnover of Rs 3463 crore, higher than Rs 3055.47 crore on Tuesday, 18 January 2011.
VIEWS FROM DIFFERENT BROKING HOUSES:
BONANZA PORTFOLIOS: "For daily purpose, the trend deciding level is at 5,710. If Nifty shows strength above 5,710 level, then rally to 5,750/5,800 levels may be seen. If Nifty does not show strength above 5,710 levels then selling pressure till 5,665/5,625 levels may also be seen".
ANGEL BROKING HOUSE: "In coming trading session, if Indices trade below 18,899/5,660 levels, then they are likely to test 18,780-18,674/5,624-5,600 levels. On the upside Indices may face resistance at 19,174-19,270/5,750-5,781 levels".
GEOJIT BNP FINANCIAL SERVICES: "Nifty is having support at 5,654 while the resistance is there at 5,762 and 5,784 and coming days will be volatile with mixed trend being the result season".
KARVY STOCK: "The market will take cues from the global markets and is expected to open on a flat to positive note. Traders are advised to trade short from 5,720 with a stop loss placed at 5,750 levels targeting lower supports".
CANARA BANK SECURITIES (CANMONDY): "Technically, Nifty exhibited a very busy and weak movement in today`s session (19.01.2011). Despite maintaining the sanctity of lower support levels, upto afternoon session, profit booking took Nifty to breach vital support levels of 5,700 and 5,670 which may a negative factor for bulls in coming session. In late hours, market was under the firm grip of bears and for the ninth consecutive session, Nifty closed below its 9, 14, 50 and 100 day`s SMA level placed at 5,751, 5,880, 5,949 and 5,956 levels; these levels may act as new resistance in coming sessions. PCR for the session was recorded at 0.97, while VIX for the day closed at higher level of 21.09% and indicating more than average volatility in market in the forthcoming sessions. RSI (14) for the day was at 36.86 levels and MACD was above the signal line, thus combined together they are giving the signals that market may witness some ranged movement in coming session".
FAIRWEALTH SECURITIES: "In the next session, Nifty is likely to face selling pressutre at higher levels 5750-5770. If sustains below 5625 it may come down to test 5550-5500 levels. Traders are suggested to trade in stock specific action and be cautious of long positions below 5625".
SOME TRADING CALLS FROM FAIRWEALTH SECURITIES FOR 20.01.2011:
Sell Reliance futures around Rs 996-999 for target of Rs 980-970 and stop loss of above Rs 1,010
Buy JSW Steel futures above 1061 for target of 1075-1090 and stop loss of below Rs 1,048
Buy HCL Technologies futures above Rs 516 for target of Rs 524-532 and stop loss of below Rs 508
Sell Jet Airways below Rs 603 with target of Rs 592-580 and stop loss of above Rs 614
Buy BRFL above Rs 215 with target of Rs 220-225 and stop loss of below Rs 210
Sell Aban Offshore below Rs 706 with target of Rs 695-685 and stop loss of above Rs 717.10
Sell Nifty future around 5745-5750 with target of 5705-5670 and stop loss of above 5775
Sell Bank Nifty future below 10530 with target of 10480-10430 and stop loss above 10580
FOR TODAY: European and US markets closed yesterday negative. All Asian markets are trading negative today. SGX Nifty is trading down 49 points and trading around 5648.
Expecting a negative day. Nifty will open gap down negative side around 5650 (+/- 5-8) and will try to take a support at 5651 and/or 5620 area. If that level also breaks, we may see 5600 today. On the upside, nifty will also try to be up because of some short-covering due to expiry nearby....but probably halt around 5700 and/or maximum 5750 area.
My sincere suggestion is DON'T TRY TO CATCH A FALLING KNIFE. ALWAYS TRADE WITH STOPLOSS TO PROTECT YOUR MONEY.
A SMALL PROFIT IS MUCH MUCH BETTER THAN LOOSING MONEY.
Expecting a negative day. Nifty will open gap down negative side around 5650 (+/- 5-8) and will try to take a support at 5651 and/or 5620 area. If that level also breaks, we may see 5600 today. On the upside, nifty will also try to be up because of some short-covering due to expiry nearby....but probably halt around 5700 and/or maximum 5750 area.
My sincere suggestion is DON'T TRY TO CATCH A FALLING KNIFE. ALWAYS TRADE WITH STOPLOSS TO PROTECT YOUR MONEY.
A SMALL PROFIT IS MUCH MUCH BETTER THAN LOOSING MONEY.
