Nifty now below 100 DMA

Nifty managed to close today at 4563, dipping more than 145 points (-3.14%). Sensex fell 491 points to end at 15,404. Markets opened lower due to weak Global ques and failure of any positive news back home. Lower European markets further added to the weakness.

The main sector hit today was the realty sector, Realty index was the top loser among the BSE sectoral indices, drifting lower by over 9.5% in a single trading session.

Selling was seen throughout the day as FII’s made a net selling of 874.26 crs in the cash market, adding to this today Nifty closed below its 100 DMA of 4634.

The next support for Nifty lies around 4510. A technical bounce is expected as markets now trade in the Oversold region. RSI for Nifty stands at 15, indication that a pullback would be nearer.

The major gainer was RNRL. Shares of RNRL have shot up by over 12% to 70.50 on the back of huge volumes. The stock opened at Rs 63 and made an intra-day high of Rs 72.7 and a low of 60.35. Total traded volumes stood at 47.5 million in the cash market.

ICICI bank has topped the value chart on the BSE with a turnover of Rs 126.21 crore. It is followed by SBI ( Rs 121.86 crore), Bharti Airtel (Rs 111.86 crore), Reliance (Rs 110.36 crore) and Suzlon ( Rs 99.45 crore).

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