Market Review:-
Today Markets remained rangebound and closed with moderate gains for a fourth consecutive trading session, some pressure on Oil, Gas and FMCG stocks seen today in initial session which laid the index down 61.95 from the high to an intra-day low of 5496.35, but Metals and Capital goods helped market to recover soon, markets continued to move sideways after recovering from the lows of the initail session. All major sectors closed in the green, consumer durables, FMCG and capital goods were the best performers of today's trading session. Sensex finally closed at 18484 which was up by 72 points. The S&P CNX Nifty settled and closed at 5545.30 which was up by 18.70 points or 0.34 % while BSE Smallcap index gained 0.6%. Today's top gainers were Hindalco Industries with +3.85%, Bajaj Auto Ltd with +2.66%, Dr. Reddy's Labs with +2.55%, HDFC with +2.25%, Bharat Heavy Ele with +1.83%. Top loosers were GAIL (India) Ltd. with -2.42%, DLF Ltd. with -2.01%, ACC Ltd. with -1.98%, Bharat Petroleum with -1.84%, Jaiprakash Associates with -1.56%
Nifty Futures:-
On the other hand, The S&P CNX Nifty opened at 5549 and made intraday day high of 5558 some profit booking was seen in market which pulled Nifty to the level of 5496, finally market managed to recover and Nifty futures settled and closed at 5546 which was up by 11.80 points or 0.21 %. Again it is looking bullish in the coming trading session if it would be able to manage to trade above the resistance level of 5560 or below support level of 5490 then it would be in a downward trend.
Resistance & Support Levels for Wednesday:-
It has resistance close to the level of 5560 & above this level the next resistance is near the 5625 mark. It has support close to the level of 5490 & below this level the next support is near 5335 mark.
Bank Nifty Futures:-
Bank Nifty continued it's upward trend and CNX Bank Index gained 21.55 points or 0.20 %. Amongst all the banking stocks Kotak Mahindra Bank, South Indian Bank and State Bank of Bikaner and Jaipur were the leaders of today's rally.
Today Bank Nifty Futures settled and closed at 11059.75 with some moderate gain of 0.20%. It is again expected to trade uptrend if it manages trade above the level of 11135 or below the support level of 10990 then it would be in a downward trend.
Resistance & Support Levels for wednesday:-
It has resistance close to the level of 11135 above this level the next resistance is near to the level of 11240. It has support close to the level of 10990 & below this level the next support is near the 10810 marks.
Today Markets remained rangebound and closed with moderate gains for a fourth consecutive trading session, some pressure on Oil, Gas and FMCG stocks seen today in initial session which laid the index down 61.95 from the high to an intra-day low of 5496.35, but Metals and Capital goods helped market to recover soon, markets continued to move sideways after recovering from the lows of the initail session. All major sectors closed in the green, consumer durables, FMCG and capital goods were the best performers of today's trading session. Sensex finally closed at 18484 which was up by 72 points. The S&P CNX Nifty settled and closed at 5545.30 which was up by 18.70 points or 0.34 % while BSE Smallcap index gained 0.6%. Today's top gainers were Hindalco Industries with +3.85%, Bajaj Auto Ltd with +2.66%, Dr. Reddy's Labs with +2.55%, HDFC with +2.25%, Bharat Heavy Ele with +1.83%. Top loosers were GAIL (India) Ltd. with -2.42%, DLF Ltd. with -2.01%, ACC Ltd. with -1.98%, Bharat Petroleum with -1.84%, Jaiprakash Associates with -1.56%
Nifty Futures:-
On the other hand, The S&P CNX Nifty opened at 5549 and made intraday day high of 5558 some profit booking was seen in market which pulled Nifty to the level of 5496, finally market managed to recover and Nifty futures settled and closed at 5546 which was up by 11.80 points or 0.21 %. Again it is looking bullish in the coming trading session if it would be able to manage to trade above the resistance level of 5560 or below support level of 5490 then it would be in a downward trend.
Resistance & Support Levels for Wednesday:-
It has resistance close to the level of 5560 & above this level the next resistance is near the 5625 mark. It has support close to the level of 5490 & below this level the next support is near 5335 mark.
Bank Nifty Futures:-
Bank Nifty continued it's upward trend and CNX Bank Index gained 21.55 points or 0.20 %. Amongst all the banking stocks Kotak Mahindra Bank, South Indian Bank and State Bank of Bikaner and Jaipur were the leaders of today's rally.
Today Bank Nifty Futures settled and closed at 11059.75 with some moderate gain of 0.20%. It is again expected to trade uptrend if it manages trade above the level of 11135 or below the support level of 10990 then it would be in a downward trend.
Resistance & Support Levels for wednesday:-
It has resistance close to the level of 11135 above this level the next resistance is near to the level of 11240. It has support close to the level of 10990 & below this level the next support is near the 10810 marks.
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