Daily Market Outlook: 21 April 2009
It started as a good day for the Indian equity markets as both the leading indices managed to trade in green but the market could not sustain the higher levels moving southward in the second half to close in red. While Sensex closed at 10979.50 (Down 43.59 Points) Nifty closed at 3377.10 (Down 7.30 Points). In the morning Asian markets traded with modest gains on account of some better than expected quarterly performance which indicated towards the some hopes of revival. But with European market opening weak, Indian markets slipped in to red zone. As regards the sectoral indices metal index was up after taking a beating in the previous trading session. Even capital goods managed to sustain the gains. Sensex shut shop at 10979, down 43 points and Nifty at 3377, down 7 points from the previous close. CNX Midcap index was up 1.66% and BSE Smallcap index was up 1.51%. The market breadth was positive with advances at 712 against declines of 507 on the NSE. Top Nifty gainers included Siemens, ABB and HCL Technologies while losers included NTPC, ICICI Bank and Cipla. Market breadth was positive with 1498 advances and 1032 declines.
Poor global cues and profit booking at higher levels saw the Indian market close flat amid choppiness in last hour of trade lastday.
Today also we expect weak opening in market
BSE Sensex: The support for the Sensex is 8850 and the resistance to the up move is at 9050/9100
Nifty Technical Trend: the support for the Nifty is at 3350-3303-3238 and the and if sustain aove 3435 then 3580/3600 also possible
Stock Watch For Today :-
Buy Power Gird above 102.50 Targets???
Buy Siemens above 322 Targets???
Other stocks that have momentum seen are
3i infotech (above 46.50) ; Gmr Infra (above 122) ; Hcl Tech (above 139);
We not claim 100% Accuracy but Profit.
Right time Entry level and Right time Exit by sms
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