GDP data made investors nervous-Nifty ended below 6000, Sensex below 20000 mark.

Market tanked on weak global markets and GDP outcome. Nifty dropped 139.60 points to end at 5984.45 and Sensex collapsed 453.09 points and ended at 19762.31.

Market sentiments got hurt by declines in lenders such as HDFC Bank Ltd as hopes the Reserve Bank of India would cut interest rates next month were dashed after the economy grew in line with forecasts in the March quarter. Market is preparing to digest this possibility also.

    All sectoral indices on NSE closed into red exception was CNX IT. CNX Realty was the top loser by 3.09% followed by CNX PSU Bank,  CNX Finance, CNX Energy, BankNifty, CNX Metal, CNX Media, CNX Commodities, CNX FMCG, CNX PSE and CNX Infra which were down more than 2%. In Nifty50 stocks, Ultracemco was the top loser by 5.18%, ended at 1885 whereas Infy was the top gainer by 2.67% and ended at 2405. Unitech was the turnover topper by traded quantity and Infy by the traded value on NSE today. Advance/Decline ratio was negative to 3.57 : 1 as 721 stocks declined and 202 gained on NSE today.

Nifty Outlook :

Nifty future didn't move beyond the level of 6140 which was necessary for a bull run. Nifty fut. ended below the important level of 6110 and another closing below this level will break short term upward-trend and may test 5890 level in coming days.

Immediate Support : 5950 / 5890
Immediate Resistance : 6060 / 6130

Nifty below 6000, Sensex below 20000.

24th May 2013, Market struggled to recover from yesterday's losses but failed to recover most. Nifty ended at 5994.7, gained 27.65 points and Sensex ended at 19731.27, positive with a 56.94 points. In NSE Sectoral Indices, CNX Metal index gained the most by 1.68% followed by Infra(1.49%). CNX pharma was the top loser by 0.72%. 
In Nifty50 stocks, Maruti was the top gainer by 7.86% whereas Sunpharma was the top loser by 3.11%. Unitech ws the turnover topper by the quantity traded and SBIN by the traded value on NSE today.
Advance Decline ratio was positive by 1.3 : 1 as 723 stocks gained and 557 stocks declined today on NSE.

Nifty Outlook : 

As mentioned in our previous blog, we have seen a volatility of 302.9 points or 5.05% in a week. Nifty didnt move above 6240 and nosed down after making a weekly high of 6239. Considering a breach of short term long trend, Nifty Fut. will trade in a range of 5890 to 6080. 31st May is the last date of the May, 2013 contract and it may attracts volatility.

Immediate Support : 5960 / 5890
Immediate Resistance : 6080 / 6160

Nifty at 30 months' high. Sensex closed at 20286 and Nifty ended at 6183.95.

Market consolidated from last two days but today ended at week's high because of short covering in the last half an hour; which lead the Nifty to end at 30 months' high. S&P CNX Nifty ended at 6183.95 first time after 12th Nov.2010. Sensex ended at 20286.12 after gaining 38.79 points. Among sectoral indices, CNX Realty was the top gainer by 2.03% whereas CNX Media was the top loser by 0.84%. In Nifty50 stocks, BHEL was the top gainer by 5.06% and ended at 203.5. Indusindbk was the top loser by 2.58% and ended at 511. Unitech was the turnover topper by the traded quantity and ITC by the traded value on NSE today.
Advance/Decline ratio was negative as 519 stocks declined and 434 stocks gained today on NSE.

Nifty Outlook : 
As mentioned in the previous blog, Nifty sustained above 6030 level and we saw the result. Now at such a higher level, the risk of holding long or short positions is definitely high as the volatility will be immense. Nifty may give a correction upto 6010 to 5890. But this does not mean it will come surely. But correction upto such levels will strengthen the market towards its new lifetime high.

Support : 6110 / 5980
Resistance : 6240 / 6350

Nifty at 28 months high.Sensex above 20000 mark and Nifty near 6100 mark.

Better than expected IIP numbers boosted the market to end at 28 month high, after January 2011. Nifty gained 41.85 points and ended at 6092,first time after 4th Jan.2011. Sensex ended at 20073.6 after gaining 134.56 points. In NSE Sectoral Indices, Auto index was the top gainer by 2.16% and Metal index was the top loser by 0.15%.
In Nifty50 stocks, Maruti gained the most by 4.41% and ended at 1733.35 whereas Coalindia was the top loser by 2.9% which ended at 299.9. Unitech was the turnover topper by the quantity traded and SBIN by the value traded on NSE today. Advance / Decline ratio was negative as 468 stocks gained and 481 stocks declined today on NSE.

Live trading session on tomorrow i.e. on 11th May, 2013 from 11:15 to 12:45.

Nifty Fut. immediate support at 6075 / 6030.
Nifty Fut. immediate resistance at 6120 / 6165.

Market discounted RBI policy.Market could not sustain at higher levels Nifty closed below 5950.

Indian equity market has already discounted the most awaiting influential event, that is RBI Credit policy. Nifty failed to sustain above 6000 mark and ended at 5943.45 after ebbing 55.9 points whereas Sensex ended at 19576.58 after shedding 159.19 points. 
Reserve Bank of India cut its policyinterest rate by 25 basis points on Friday for the third time since January, as expected, as growth slows and inflation ebbs, but said there is little room to ease monetary policy further. The Reserve Bank of India trimmed the repo rate to 7.25 percent, its lowest since May 2011, and kept the cash reserve ratio (CRR) for banks unchanged at 4 percent, also in line with expectations.
Among NSE Sectoral Indices, PSU Bank Index Banknifty was the major loser by 3.28% followed by the Banknifty index by 2.57%. The IT index was the top gainer by just 0.39%.
In Nifty50 stocks, Jindalstel was the top gainer by 3.81%, ended at 318.45 and Tatamotors was the top loser by 3.99% which ended at 285.6
Rcom was the turnover topper by the traded quantity and SBIN was by the traded value today on NSE.
Advance / Decline ratio was negative at 1.8:1 as 312 stocks gained and 564 stocks declined on NSE today.

Nifty Outlook : 
Nifty Fut. failed to sustain above 6030 which will be considered as a resistance on weekly chart. Consider 5870 is a near support. Any sustainable movement above or below these levels will lead the direct to the direction accordingly.
Immediate Support : 5870
Immediate Resistance : 6030