The market after flat opening yesterday moved with negative bias throughout slipping to session low in late afternoon after coal verdict by the Supreme Court led by sell off in stocks of capital goods, metal, power, banking among others. The Sensex closed the day at 26744, down by 31 points making intra-day low of 26560 while the Nifty ended at 8002 losing 15 points. Moreover, F&O expiry too weighed on the market sentiment. The market breadth remained weak as 1086 stocks advanced while 2014 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8015.20)
The counter after flat opening yesterday moved with negative bias throughout slipping to session low of 7959 soon after coal verdict by the Supreme Court in late afternoon. The counter however, recovered in closing hours and finally closed with marginal loss of 17 points. The counter to gain strength needs to trade and remain above 8031.75 whereby it may move up to 8050/8065. Strong support for the counter exists at 7987.25 which if breached decisively with volumes then it may slide to 7968/7952.
The counter after flat opening yesterday moved with negative bias throughout slipping to session low of 7959 soon after coal verdict by the Supreme Court in late afternoon. The counter however, recovered in closing hours and finally closed with marginal loss of 17 points. The counter to gain strength needs to trade and remain above 8031.75 whereby it may move up to 8050/8065. Strong support for the counter exists at 7987.25 which if breached decisively with volumes then it may slide to 7968/7952.
BANK NIFTY FUTURE (Last close 15765.55)
The counter after flat opening yesterday continued to drift lower on profit taking as the session progressed dipping to a low of 15640 in late afternoon trades and finally closing with a loss of 164 points. The counter to gain strength needs to trade and remain above 15822.75 whereby it may move up to 15874/16009. Strong support for the counter exists at 15722.25 which if breached decisively with volumes then it may slide to 15666/15614.
The counter after flat opening yesterday continued to drift lower on profit taking as the session progressed dipping to a low of 15640 in late afternoon trades and finally closing with a loss of 164 points. The counter to gain strength needs to trade and remain above 15822.75 whereby it may move up to 15874/16009. Strong support for the counter exists at 15722.25 which if breached decisively with volumes then it may slide to 15666/15614.
FEDERAL BANK FUTURE (Last close 126.90)
The banking stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on daily charts and may move up to 129/131 on volumetrading . Strong support for the stock exists at 125.00.
The banking stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on daily charts and may move up to 129/131 on volume
NTPC FUTURE (Last close 137.80)
Thestock after consolidating during the past sessions closed yesterday near its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 140/142 on volume trading. Strong support for the stock exists at 136.00.
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