4th May 2012 Closing Market Updates 15:53
As described in previous blogs, Nifty had started southward journey after failing to cross high of 14th March,2012 and which was 5463.9. The uptrend will start only after Nifty will cross 5270-5280 level(these levels are as on today's data of Nifty and it may change after next sessions).
Next supports for Nifty will be at 5050, 4940 and 4860. The spine support of Nifty will be at 4510 and below that Nifty may fall upto 3900 levels also in extreme case.
We recommend not to go long unless and untill Nifty crosses and sustains 5280 level.
Rising US$ against INR will impact adversely on the market.USD/INR is trading around day high(54.11) and made a day high of 54.1750 on MCX.
Traders eyeing on GAAR meeting which will be held in next week.
Today, market opened weak and later affected by loosing global indices' steam. Nifty ended at 5082.4 with a fall of 106 points.Sensex breached 17k mark and ended at 16827.5 by shedding 323.69 points.
All BSE Sectoral Indices except HC index were closed into negative. HC was up by 0.28%.Capital Goods Index was the top loser by 3.79% followed by Bankex(-3.17%), PSU, Power, Metal, Realty and Consumer durables which dropped more than 2%.
In Nifty50 stocks, Cipla was the top gainer by 2.93% and ended at 326.95 whereas Bankbaroda was the top loser by 6.23% and ended at 685.9. LITL was the most traded stock by the traded quantity and SBIN was the turnover topper by the traded value on NSE. Advance/Decline ratio was negative with a ratio of 4.5:1 as 1184 stocks declined and 258 stocks gained today on NSE.
Major Global Indices :
Hang Seng : -163.53
Nikkei : +29.30
FTSE : -51.43
CAC : -30.19
DAX : -52.70
Dow Futures : -20.00
Nasdaq Futures : -0.25
Next supports for Nifty will be at 5050, 4940 and 4860. The spine support of Nifty will be at 4510 and below that Nifty may fall upto 3900 levels also in extreme case.
We recommend not to go long unless and untill Nifty crosses and sustains 5280 level.
Rising US$ against INR will impact adversely on the market.USD/INR is trading around day high(54.11) and made a day high of 54.1750 on MCX.
Traders eyeing on GAAR meeting which will be held in next week.
Today, market opened weak and later affected by loosing global indices' steam. Nifty ended at 5082.4 with a fall of 106 points.Sensex breached 17k mark and ended at 16827.5 by shedding 323.69 points.
All BSE Sectoral Indices except HC index were closed into negative. HC was up by 0.28%.Capital Goods Index was the top loser by 3.79% followed by Bankex(-3.17%), PSU, Power, Metal, Realty and Consumer durables which dropped more than 2%.
In Nifty50 stocks, Cipla was the top gainer by 2.93% and ended at 326.95 whereas Bankbaroda was the top loser by 6.23% and ended at 685.9. LITL was the most traded stock by the traded quantity and SBIN was the turnover topper by the traded value on NSE. Advance/Decline ratio was negative with a ratio of 4.5:1 as 1184 stocks declined and 258 stocks gained today on NSE.
Major Global Indices :
Hang Seng : -163.53
Nikkei : +29.30
FTSE : -51.43
CAC : -30.19
DAX : -52.70
Dow Futures : -20.00
Nasdaq Futures : -0.25
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