Dealer’s Diary
The market edged higher on the back of firm Asian stocks. In a quick span, the
indices retreated and moved in a tight range below the baseline till the early
afternoon session. Weak opening of European shares also weighed on the
market. Selling pressure was witnessed in banking and OMC stocks.
With strong volatility, the market reversed previous losses and ascended above
the baseline. Nonetheless, weak investor sentiments pulled back modest gains.
The indices ended with marginal losses with the Sensex and Nifty losing
~0.1% each. The mid-cap index remained flat, whereas the small-cap index
gained 0.2%. Among the front-runners, Tata Motors, HDFC, Hindalco, L&T
and RIL gained 0.8–2%, while RCom., Tata Power, ICICI Bank, Hero Honda
and JP Associates lost ~2%. Among mid caps, SpiceMobile,
FluoroChemicals, Bharat Forge, Sadbhav
5–10%, while Greaves Cotton, Sterling Intl., KGN
Tata Teleservices lost 3–5%.
Markets Today
The trend deciding level for the day is 18744 / 5631 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18806 – 18885 / 5650 - 5675 levels. However, if NIFTY
trades below 18744 / 5631 levels for the first half-an-hour of trade then it may
correct up to 18665 – 18603 / 5606 - 5586 levels.
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