The BSE 30-share Sensex was up 71.60 points or 0.39% to 18,273.80, its highest level since 3 February 2011. The index rose 159.46 points at the day's high of 18,361.66 in mid-afternoon trade. The Sensex lost 151.72 points at the day's low of 18,050.48 in mid-morning trade. The S&P CNX Nifty was up 25 points or 0.46% to 5,481, its highest level since 3 February 2011. The Nifty hit a high of 5,506.50 in mid-afternoon trade. The BSE Mid-Cap index fell 0.07% and underperformed the Sensex. The BSE Small-Cap index gained 0.59% and outperformed the Sensex.
The market breadth was positive. On BSE, 1585 shares advanced while 1305 shares declined. A total of 96 shares remained unchanged. The breadth had turned negative in mid-morning trade from positive breadth in early trade. Among the 30-member Sensex pack, 16 rose while the rest fell.
BSE clocked turnover of Rs 3755 crore, higher than Rs 3466.36 crore on Monday, 14 February 2011.
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ANGEL BROKING (Mileen Vasudeo): “Markets opened higher and traded with extreme choppiness to close in green. On the daily chart we are observing that prices have marginally closed above the downward sloping channel but have formed a ‘Doji’ pattern. This suggests indecisiveness prevailing at current levels. In coming trading session, if indices trade above 18,370/5,510 levels then they are likely to test 18,542-18,600/5,566-5,580 levels. On the downside, 18,050-17,990/5,400-5,380 may act as support for the day”.
GEOJIT BNP PARIBAS (Alex Mathews): “Nifty today managed to close on a positive note with good buying in banking sector stocks. Nifty is having resistance at 5578 and 5630 while the support is there at 5417 levels”.
BONANZA PORTFOLIO (Puneet Kinra): “Nifty showed volatile session and made ‘Doji’ type candlestick pattern on Daily charts which shows indecision among bulls and bears at current levels. Selling pressure may resume if Nifty sustain below 5440 levels else volatility may be seen. For daily purpose, trend deciding level is at 5,480-5,500.If Nifty shows strength above 5,500 level, then rally to 5,540/5,625 levels may be seen. If Nifty does not show strength above 5,480 levels then selling till 5,450/5,400/5,350 may also be seen”.
CANARA BANK SECURITIES (CANMONEY): “Technically, after a big bullish candle of last session, today Nifty formed one bullish candle and witnessed a voluminous trade with positive momentum. These factors may extend support to the bulls and may ignite an upward short term momentum from here. On account of a good recovery, Nifty managed to close above the vital levels of 9 & 14 day’s SMA placed at 5,373 and 5,416 but below its 50 and 100 day’s SMA level placed at 5,915 and 5960 levels; these levels may act as new ranges, in coming sessions. VIX for the day recorded at lower level of 22.85%, thus indicating optimal volatility in market in the forthcoming sessions. RSI (14) for the day was at 45.30 levels and MACD was above the signal line, thus combined together they are giving the signals that market may witness upward movement in coming session”.
VIRATECHINDIA.COM (Rahul Mohinder): "One thing heartening is certainly that the volume is very good. I feel that this will extend to about 5620 to 5650 and that will be a good testing point for the market. On the downside, key support would be now 5320. I think banking could lead from hereon and could really steer the market up ahead".
TATA INVESTMENT CORPORATION (Amit Dalal): "We have a reversal taking place perhaps in oil price which had gone up to USD 90, which is now trading in the 80s. Inflation is slightly lower, price of onions are Rs 15-20. Therefore the negative flow threat which was continuous for the last 2 or 3 weeks may not to be at the same extent."
KARVY STOCK: "The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long at 5450 else form 5420 levels for targets of 5500 and 5520 levels with a stop loss below 5400 levels".
SKP SECURITIES: “Nifty future support 5360/5240 whereas resistance are 5550/5630”.
