makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 06.07.2010 TUESDAY

Tuesday, July 6, 2010

MARKET ENDED 06.07.2010 TUESDAY

WERE SENSEX GAINERS

MARKET ENDED 06.07.2010 TUESDAY

SENSEX 17614.48 -19.51

NIFTY 5289.05 -01.20

NASDAQ 2091.79 -09.57

DJIA 9686.48 -46.05

RS/$ 46.78 +00.01

Across-the-board buying on the back of positive global cues helped indices ended on a higher note Tuesday. All the sectoral indices ended in the green with metals, IT and banks in the lead.
After opening in the red, benchmarks bounced back following pullback in Asian peers. Later, sustained buying throughout the day pushed indices near psychological resistance levels. Positive European markets also provided support near higher levels.
National Stock Exchange’s Nifty ended at 5289.05, up 53.15 points or 1.02 per cent. The index touched a high of 5297.45 and low of 5231.50 in today’s trade.
Bombay Stock Exchange’s Sensex ended at 17614.48, up 173.04 points or 0.99 per cent. The index touched intraday high of 17643.14 and low of 17395.58.
I see the market going up to 5350 with minor resistance around 5315. Traders can buy Nifty futures above 5265 for target of 5322 with stoploss of 5234.
Investors should remain in cash and enter the market only if the Nifty decisively breakout above 5400. Oil&gas, consumer durables and capital goods stocks look bullish.
The BSE Midcap Index advanced 0.75 per cent and Smallcap Index moved higher by 0.60 per cent.
Amongst the sectoral indices, BSE Metal Index was up 1.88 per cent, BSE Bankex advanced 1.73 per cent and BSE IT Index moved 1.68 per cent higher.
Sun Pharma (3.15%), TCS (2.89%), HDFC Bank (2.47%), Jindal Steel (2.39%) and M&M (2.37%) were the top Nifty gainers.
Reliance Communications (-1.70%), Reliance Power (-1.55%), PNB (-1.18%), Jaiprakash Associates (-1.03%) and ACC (-1.03%) resisted the upmove.
Market breadth was positive on the NSE with 1764 gainers against 1370 losers.
European markets were on the rise led by financials and commodities and stock futures indicated a positive start on the Wall Street. At 4:30 pm IST, Dow Jones futures was up 1.04 per cent, Nasdaq gained 1.58 per cent and S&P 500 moved 1.17 per cent higher.