::1st March Nifty Pre Market ReportStock Market Technical Analysis
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Nifty Pre-Market Analysis, 19th March
The benchmark Nifty closed the session on a flat note with positive bias, after seeing consolidation since beginning of trade. Overall it was a lacklustre session today, after last two-day rally but was the third consecutive positive closing for markets. The index got strengthened in the last few minutes of trade to close just near to 5250, especially on the back of heavyweights like Infosys, SAIL, ICICI Bank, Reliance Industries and SBI along with telecom stocks.
However, selling in infrastructure stocks along with ONGC, TCS, Wipro, M&M, ITC, Sterlite Industries, BPCL, Maruti and HDFC Bank limited the losses to major extent.
Shares of India's second largest IT exporter Infosys Technologies touched a 52-week high of Rs 2,793.90 each, may be it was catch up ahead of results season. The stockclosed at 2,787.60, up 1.8%. Yesterday TCS intimated that its fourth quarter numbers would be strong than third quarter of FY10.
The 30-share BSE Sensex closed at 17519.26, up 29.18 points and the Nifty rose 14 points to settle at 5245.90, after seeing an intraday range of 17417.61-17548.13 and 5214.40-5255.65, respectively. FIIs net bought more than Rs 11,000 crore worth of equity shares since the beginning of this month.
SECTORAL PERFORMANCE
ICICI Bank from the banking & financial space went up 1.6%; Axis Bank was up 1.3%, PNB up 0.8%, HDFC up 0.4% and SBI up just 0.12%. However, HDFC Bank declined 0.4%.
Reliance Industries and Cairn India from the oil & gas space were up 0.7% and 1.3%, respectively; while BPCL lost over 2% and GAIL was down 0.6%. ONGC tumbled 1.8%.
Idea Cellular continued its run up in today's trade as well, was the top gainer on the Nifty. The stock rallied 4.66%. Among other telecom stocks, Bharti Airtel was up 0.7% and Reliance Communications up 2%.
SAIL, Tata Steel and Hindalco from the metal space gained 1-2%. Jindal Steel was up just 0.14% while Sterlite Industries lost 0.8%.
In the infrastructure space, Jaiprakash Associates rallied 2.56% and BHEL was up just 0.2% while ABB, L&T and Siemens fell 0.7-1%.
DLF and Unitech from the realty segment were up 1% and 0.2%, respectively.
In the cement space, Ambuja Cements and ACC gained 0.9% each while Grasim declined 0.4%.
Reliance Infrastructure from the power pack went up 1.6% and Suzlon Energy rose 0.5%. However, NTPC and Tata Power slipped 1.3%.
TECHNICAL VIEW
INTRADAY LEVELS: FOR NEXT TRADING SESSION
LEVELS
NIFTY
BANK NIFTY
R3
5304.15
9439.18
R3
5279.90
9360.56
R3
5262.90
9318.28
PIVOT POINT
5238.65
9239.66
S1
5221.65
9197.38
S2
5197.40
9118.76
S3
5180.40
9076.48
NIFTY
Nifty witnessed a flat opening and flat movement throughout the session amidst low volumes.
Nifty broke the resistance of 5250 but again failed to close above the same.
The support for Nifty is at 5100 and then 5050.
The resistance for the upmove is at 5260 and 5310.
BANK NIFTY
Bank Nifty witnessed a strong upmove as it broke an important resistance level of 9250.
Bank Nifty could face resistance at 9360.
The supports for Bank Nifty are 9180 and 9100.
The resistance is at 9360 and 9450.
DAILY NEWS
Rolls-Royce bags contract from GAIL:report
Glenmark gets USFDA nod for Hydrochlorothiazide tablets
Wipro slips as promoter entity pares stake
Hike in promoter stake lifts Kohinoor Foods
Sun Pharma gets USFDA nod for generic Prometh Syrup
Subex allots 4mn shares to promoters at Rs80/share on preferential basis
S&P revises India's outlook to stable from negative
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