Foreign Institutional Investors (FIIs) were net sellers in the equity segment worth Rs 9.21 billion on both the BSE and the NSE on Jan. 31, as per provisional data available at NSE. They bought equities worth Rs 25.99 billion and sold equities worth Rs 35.20 billion.
At the close, the benchmark 30-share index, BSE Sensex lost 68.21 points or 0.37% at 18,327.76 with 17 components registering drop. Meanwhile, the broad based NSE Nifty fell by 6.25 points or 0.11% at 5,505.90 with 29 components registering drop. The BSE Mid and small caps underperformed their larger counterparts declining 0.44% and 0.80% respectively. Market breadth was negative with 1,206 advances against 1,737 declines.
FOR TODAY: Nifty is looking bearish in the coming trading session. It has first support close to the level of 5410 & after it may get the next support close to the level of 5350. Resistance close to the level of 5588 & after it may face the next resistance close to the level of 5625. SGX Nifty is trading around 5525 level up a little bit. Nifty may open up at 5520-5528 level and will try to break out the first resistance around 5560 level.
For Bank nifty, first support will be 10385 and resistance emerges at the level of 10670
Buy Nifty Futures above 5,550 for target of 5,585-5,610 and stop loss of below Rs 5,515
Sell Bank Nifty Futures below 10,600 for target of 10,530-10,430 and stop loss of above Rs 10,670
Buy Titan Industries futures above Rs 3,630 for target of Rs 3,670-3,700 and stop loss of below Rs 3,594
Buy ICICI Bank futures above 1,035 for target of 1,048-1,060 and stop loss of below Rs 1,018
Buy M&M futures above Rs 720 for target of Rs 727-737 and stop loss of below Rs 713
The best strategy is SELL at higher level till 5800 (Nifty spot).
