Friday, January 17, 2014

Nifty failed to hold above 6300 mark, Sensex maintained to stay above 21k.

The Indian equity market ended the day with losses on Friday after the rupee hit over five week low against the US Dollar. Rupee depreciated almost 20 paise in the post noon session and ended at 61.5350 versus US$.The US dollar faded marginally after a mixed bag of US economic data. Also, IT & banking dragged the market after flat start. Nifty closed at 6261.55, down by 57.25 points and Sensex slipped 201.56 points to end at 21063.62.
All the NSE Sectoral indices closed into red and the leader was CNX Realty by 2.58% followed by CNXIT by 2.4%.
In Nifty50 stocks, BPCL gained the most by 2.92% whereas TCS plunged by 5.5% on announcing Q3 results.
Unitech was the turnover topper by the traded quantity and Infy by the traded value.
Advance/Decline ratio was at 3:1 as 1071 stocks declined and 355 stocks gained today on NSE.

 Nifty Outlook :

 As described in the last blog, Nifty did not break 6140 level and stayed into Northward journey. Also test the upper resistance of 6335 but again failed to close above it. Nifty should give next weekly close above 6255 to maintain the uptrend.
Important Support : 6181 / 6220
Important Resistance : 6290 / 6335
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