Today, lackluster market managed to close above the magic figures of their indices 6000 and 20000 for Nifty and Sensex respectively for the consecutive week. Nifty ended at 6022.8 after losing 15.25 points and Sensex ended at 20133.13 with a marginal gain of 4.72 points. Among NSE Sectoral Indices, CNX IT was the major gainer by 2.61% and CNX Realty was the top loser by 2.05%.
In Nifty50 stocks, TCS gained the most by 5.03% and ended at 1744 whereas BHEL was the top loser by 8.97% which ended at 172.5.
Advance / Decline ratio was negative as 737 stocks declined and 434 stocks gained today on NSE whereas 116 stocks remain unchanged.
Nifty Outlook :
Nifty managed to close above 6000 to hold bullishness and which is a good sign. Smart recovery from 5910 level has boosted the confidence of the bulls which may convince for a new high in recent months.
Immediate Support : 5960 / 5880
Immediate Resistance : 6140 / 6230
A Murthy Miracle stimulated the sentiment of IT today.
Infy Q2 results has beaten the analysts' expectations and it has reflected into its' stock price with a jump of 11% at the closing. Nifty ended above 6000 mark first time after 30th May,2013 with a gain of 82.60 points and Sensex jumped to 19979.45 with a rise of 303.39 points'. Among NSE Sectoral indices, CNX IT has played an imperative role by gaining the most by 6.62%. CNX Realty was the top loser by a 0.54% drop.
In Nifty50 stocks, Infy was the top gainer by 10.92% which ended at 2804.45 whereas JPAssociat was the top loser by 3.23%, ended at 52.45. Unitech was the most active by the traded quantity and Infy by the traded value on NSE today. Advance/Decline ratio was negative as 492 stocks declined and 396 stocks gained today on NSE.
Nifty Outlook :
As clearly mentioned in 28 June blog, Nifty has taken support at 5770(bounced back from 5775.55) and marched with a upward trend thereafter. On the charts, weekly as well as daily, Nifty is in a bullish trend unless and until it breaks and sustains below 5840 level. Corporate results may influence the specific sectors and the sentiments indirectly in coming weeks. Rupee Riddle also affects the market possessively in coming days.
Support : 5960 / 5880
Resistance : 6140 / 6230
