The Greek Government is expected to face votes on June 29, on the austerity measures. An implementation law, which provides the technical details of how the five-year plan will be applied is also due to be discussed and approved this week by the deadline of June 30 to secure a new bailout from the European Union and IMF.
FIIs were net buyers with the tune of ` 819.41 crore (prov. fig.)
The BSE Sensex jumped 80.04 points or 0.43% to settle at 18,492.45, its highest closing level since 7 June 2011. The Sensex jumped 115.04 points at the day's high of 18,527.45 in early trade. The index fell 88.97 points at the day's low of 18,323.44 in mid-morning trade. The S&P CNX Nifty was up 18.70 points or 0.34% to 5,545.30, its highest closing level since 7 June 2011. The Nifty hit high of 5,558.30 in intraday trade. The BSE Mid-Cap index rose 0.78% and the BSE Small-Cap index gained 0.6%. Both these indices outperformed the Sensex.
The market breadth was positive. On BSE, 1,456 shares advanced while 1,389 shares declined and a total of 123 shares remained unchanged. The breadth swung between positive and negative zone earlier in the day. Among the 30-member Sensex pack, 21 rose while the rest of them fell.
BSE clocked turnover of ` 2805 crore, higher than ` 2566.18 crore on Monday, 27 June 2011.
FOR TODAY: Though Nifty is making a higher top with higher bottom on daily chart indicating bullish, but made an indecisive candlestick near resistance level. On the contrary, Nifty closed 5546 with the formation of the hanging man which signifies the bearish signal but the confirmation is required. if closed lower to previous day closing means that the Nifty may consolidate in this range for sometime because right now the Nifty is moving above 50 EMA, WMA and as well SMA. Moreover, Nifty is near to its resistance level 5576 which is a 200 EMA and the leading indicators (Stochastic & RSI) are giving the over bought signal of Nifty.
EU as well as US markets closed in GREEN nearly more than 1% gain with a hope for a suitable solution for GREECE debt crisis. All Asian markets are trading in advance except Shanghai, which is flat. SGX Nifty is up 39 points and trading at 5585 (at 8.45 am) suggesting Nifty may open a gap up and will try to cross 5600.
EU as well as US markets closed in GREEN nearly more than 1% gain with a hope for a suitable solution for GREECE debt crisis. All Asian markets are trading in advance except Shanghai, which is flat. SGX Nifty is up 39 points and trading at 5585 (at 8.45 am) suggesting Nifty may open a gap up and will try to cross 5600.
WATCH 5577, 5605 AND 5659 LEVEL ON THE UPSIDE WHEREAS ON THE DOWN SIDE, IF BREACHES 5524, WE MAY SEE 5511/5480 AND 5460.
ONE SHOULD BE CAUTIOUS AROUND 5600-5605 LEVEL. 