Indian Market failed to sustain any gain and closed with moderate loses. IT and Realty stocks faced major selling pressure while Health Care and Auto performed well. The Sensex closed at 17463, down 129 points from its previous close, and Nifty closed at 5225, down 27 points. The CNX Mid-cap index was up 0.5% and the BSE Small-cap index was down 0.9%. The market breadth was negative with advances at 487 against declines of 822 on the NSE. The top Nifty gainers were Reliance Infra, JP Associates, SAIL and Tata Motors and prime losers included SBI, Bharti Airtel, Infosys and Sterlite Industries.
Sell Nifty Futures below 5,210 for target of 5,170-5,150 and stop loss of above Rs 5,244
Buy Bank Nifty Futures above 10,130 for target of 10,200-10,242 and stop loss of Rs 10,060
FOR TODAY: As expected yesterday, Nifty made a halt from its free fall at 5200 (it hits low as 5196) and then again turn back and closed to 5225. EU and US markets traded flat to negative tone yesterday. Asian markets were trading today morning mixed. SGX Nifty is trading at 5232, 7 points up suggests that Nifty may open flat to negative tone. If and only if, Nifty does not break 5191 level, and trade with volume above 5210, upmove may be seen till 5277 and/or 5300 level. On breaching 5191 level on the downside, Nifty target will be 5174 (on intraday basis) and 5076.
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