SPOT NIFTY LEVELS FR 19TH APRIL~~~!!
Today nifty index has a stiff resistance at 5317. Once if it manages to cross 5317, it might reach 5334 and 5348 too. Above those levels, bulls may take nifty to 5365 and even 5381 levels.
On the other side, below 5278 level, nifty may be dragged down to 5263 by bears. More action only below 5245. Once if nifty manages to cut 5245, it may touch 5229. Final support for bulls acting at 5215 level.
Sectors looking bullish
1. Auto
2. HC
3. Oil&Gas
Sectors looking bearish
1. Reality
2. FMCG
3. Bankex
As long as we hold 5300, the market could consolidate before moving up, . Today, we need to stay above 5311 to remain positive with support at 5281 and 5262 and resistances at 5330 and 5360,
NIFTY:RES 5315-5340-5365 SUP 5295-5265-5235;BUY BHARATFORGE AROUND 329 SL 324 TGT 336-341
MARKET SUMMARY
Markets today advanced further in choppy trade to end the day on firm note for the fourth successive session. Earlier, markets got off to a flattish start, reflecting mixed trend in global equity markets. Indices later started advancing in post-noon trade. Despite volatility, arising out of global cues, indices closed firm on the penultimate trading session of the week. Benchmark indices NIFTY and SENSEX closed higher by 0.61% and 0.64%, respectively. Broader markets, too, reflected positive mood with BSE Midcap and BSE Small cap indices gaining by 0.25% and 0.27%, respectively.
On the sectoral front, BSE AUTO(+2.05%), BSE HEALTHCARE(+1.18%) BSE FMCG (+0.96%) and BSE METAL (+0.80%) outperformed the broader markets, whereas BSE CAPITAL GOODS (-0.89%), BSE POWER (-0.78%) and BSE OIL & GAS (-0.59%) were the major underperformers.
Prominent stocks that stood out today with positive action were OBEROI REALITY, TATA GLOBAL, DIVIS LAB, COAL INDIA and HDFC BANK, whereas ACC, BHEL, IL, IDEA, UNION BANK and REL.CAP were significant losers.
Asian markets closed mixed earlier today with Hang Seng and Strait Times posting gains of 1.03% and 0.25%, respectively, whereas Nikkei posted losses of 0.82%. European markets, currently, are trading in green, with gains in the range of 0.5 to 0.6%.
Trade Highlights for the day
Strides Arcolab Ltd: Strides Arcolab hit a 52-week high in today’s trade at Rs 653.70. The company received a nod from the US FDA for marketing the generic cancer treatment injection Cisplatin in the US market. The US market for generic Cisplatin is pegged at approximately $10 million. The share ended the day at Rs 653.20 with gains 3.39%.
Bharat Heavy Electricals Ltd: The counter tanked in today’s trade on the back of news that US investment bank Morgan Stanley downgraded the rating on the capital goods company’s share to “Underweight”. The downgrade was primarily initiated on the back of slack demand, resulting in an oversupply in the power equipment market in the country. The share ended the day at Rs 250.55 with losses of 3.93%.
ACC Ltd: The company fell in today’s trade on the back of disappointing Q1 earnings results, reporting a profit after tax of Rs 151.55 crore (-56.72% Y-o-Y) as against Rs 350.17 crore during the same time last year. This was largely the result of a on account one-time depreciation charges of Rs 335 crore for Q1CY12 as the method of providing depreciation on fixed assets with respect to captive power plants was changed from the Straight Line to Written Down Value during the current quarter. The share ended the day at Rs 1247.60 with losses of 3.82%.
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