Quotes with Resistance & Support
Market Information

Nifty likely to take a pause

This article was posted on Oct 22, 2009 and is filed under Market Outlook

Markets took rest on Wednesday post Diwali run over the past couple of days. Markets saw some profit booking. Nifty managed to end at 5063 ending 50 points lower, and Sensex closing at 17009 ending 213 points lower.

The Auto space in the BSE Sectoral index lead the fall, losing 2.36%. The second top loser was the FMCG sector. Banking stocks too saw some profit booking after their rally past week, Banking Index fell 2.17%. Bank of Baroda was the major loser losing 4.5%.

Today was a quite day for Nifty. Global markets looked flat, FII’s were net sellers worth 512 cr. On the other had DII’s too were net seller of more than 300cr in the Cash Market.

Disappointing quarterly resutls by few companies like Tech Mahindra, Yes Bank further dampened the mood. Tech Mahindra posting a net loss of 44%.

Biggest index gainers included HCL Tech(up 3.4%), Jindal Steel up 2.19%, TCS up 1.89% Tata Power up 1.68%.

We are likely to consolidate in the rage of 5050-5150 for some time. The next support for Nifty is at 5030.

Tags: , , , , ,

Similar Posts:

Breakouts

+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

CAN I BUY POLY MEDICURE FOR INTRADAY TOMORROW ON CURRENT LEVELS?WILL NIFTY BE +IVE TOM.?RESISTANCE AT WHAT LEV...continue reading »
- by Nitin
Status: Awaiting reply

Market Stats

  • Sensex
    16042.18
    +106.57
    [+0.67%]
  • Nifty
    4792.65
    +32.25
    [+0.68%]
  • Dow Jones
    10054.33
    +145.94
    [+1.47%]
  • Nasdaq
    2150.90
    +24.85
    [+1.17%]
  • Dow Futures
    10019.00
    +124.00
    [+1.25%]
  • Nikkei 225
    9932.90
    -18.92
    [-0.19%]
  • Hang Seng
    19790.28
    +239.39
    [+1.22%]
  • Straits Times
    2745.02
    +51.40
    [+1.91%]
  • Shanghai
    2948.84
    +13.67
    [+0.47%]
  • FTSE 100
    5126.96
    +34.63
    [+0.68%]
  • CAC 40
    3628.31
    +21.04
    [+0.68%]

Search Our Archives

Latest Investment Idea

Recent Comments