After Govt.'s declaration, that exports hit $300 billion for the fiscal year ended March, rate sensitive stocks surged and overall buying seen in the last session of the market hours hoping rate cut further. Nifty ended at 5774.75 with a gain of 86.05 points and Sensex rallied 255.18 points and ended at 18986.34. Nifty hit 5794.35 as a day high in the last half an hour just because of short covering. In NSE Sectoral Indices, BankNifty was the top gainer which gained 2.56% followed by Auto index, up by 2.32%. CNX IT was the only loser by 0.05%.
In Nifty50 stocks, Indusindbk rose the most by 7.71% and ended at 451.95 whereas NMDC was the top loser by 2.48%, ended at 123.85. Rcom was the turnover topper by the traded quantity and TCS was by traded value on NSE today.
Advance/Decline ratio was positive to 1.69 : 1 as 597 stocks gained and 353 stocks declined today on NSE.
Nifty Outlook :
In this week Nifty Fut. has gained 238.6 points on closing basis.The weekly low was 5503 and high was 5796.7. As expected Nifty Fut has completed it's bounce-back and crossed the resistance of around 5775 but failed to close above the same. It is advisable to book profits at higher levels.Any closing above 5780 level lead the rally to test 5860-5880 levels.
Immediate Support : 5720 / 5660 / 5630
Immediate Resistance : 5796 / 5830 / 5880
Closing Market Updates 12th Apr.2013
As expected, Infy triggered the market sentiment and lead to gap down opening. Nifty opened 74 points on the down side and unable to recover the losses. Banking and other major stocks stopped market to slide below 5500 mark and Nifty ended at 5522.05 with a loss of 71.95 points and Sensex ended at 18224.47 with a fall of 317.73 points.
FMCG index gained by 1.91% and was the top gainer among sectoral indices on NSE followed by PSU Bank index. Whereas IT index tanked the most by 11.74.
In Nifty50 stocks, JPAssociat gained the most by 4.67% and ended at 70.6. Infy was the top loser by 22.07% and ended at 2273.05.
Advance/decline ratio was negative as 526 stocks gained and 752 stocks declined today on NSE.
Nifty Outlook : Nifty Apr Fut may struggle to go beyond the range of 5620 and 5580 levels.
Support : 5480/ 5455 / 5360
Resistance : 5580 / 5620 / 5660
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Weekly Blog 5th Apr. 2013 16:17
Today, spot Nifty could not cross its previous close, i.e. 5574.75 and it reflects the market strength and the sentiment.Nifty ended at 5545, down by 29.75 points and Sensex dropped by 86.41 points to end at 18423.29.
Among BSE sectoral indices, Oil&Gas was the major gainer and Bankex was the top gainer.
In Nifty50 stocks, Maruti was the top gainer by 7.18% and ended at 1405.25 whereas NMDC was the top loser by 4.94%, ended at 124.1.
Renuka was the turnover topper by the quantity traded and Mcdowell-n by the traded value on NSE.
Advance/Decline ratio was negative as 696 stocks gained and 748 stocks declined today on NSE.
Nifty Fut. Outlook :
As stated in our previous blog, Nifty Fut. bounced back upto 5773.35 this week but could not sustain above 5770 and closed below 5600 today. Nifty Fut. has major support at 5380-5360 levels. We can not ignore the immediate support of 5550 as it is not broken today and which was tested on 20th Nov.2012 before making high of 6120. Next week, results session will lead the market sentiment. Infy will declare their Q4 results on Friday,12th Apr. It may influence the market.
Support : 5550 / 5455 / 5360
Resistance : 5595 / 5660 / 5775
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