makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 06.06.2011 MONDAY

Monday, June 6, 2011

MARKET ENDED 06.06.2011 MONDAY

WERE TODAY'S GAINERS

MARKET ENDED 06.06.2010 MONDAY

SENSEX 18420.11 +43.63

NIFTY 5532.05 +15.30

NASDAQ 2727.51 -05.27

UPDATEDTIME 09.28 PM 06 JUNE 2011

Equities ended volatiles session on a positive note due to lack of participation from investors in absence of direction to guide the market. According to analysts, the pull-back in the benchmarks during the last one and half hour of trade was slightly on account of short-coverings.

Volumes were sluggish in options, put writing was seen at 5400 & 5500 strike prices whereas on the call side, writing was seen at 5700 & 5800 strike prices. VIX index increased by 3.40%, a further upside move may lead to supply in the market at higher levels.

Nifty holds crucial support at 5440 levels below where selling can be intense. Even the put maximum concentration is seen at 5400 strike price, suggesting an important level for the market. On the upside, if Nifty future sustains above 5600 levels on closing basis may lead to marginal short covering the market.

Auto sector looks to be weak at current levels and Tata Motors below Rs 1000 can correct steeply. BHEL from the capital goods space looks weak below Rs 1900 levels. Both the counters can test 6-7 per cent on downside if their support levels are breached.

Tech Mahindra and Godrej Consumer are showing a bullish trend and can target 5-6 per cent upside this week.

Bombay Stock Exchange's Sensex ended at 18420.11, up 43.63 points or 0.24 per cent. The 30-share index h IT a high of 18458.63 and low of 18258.42 in trade today.

National Stock Exchange's Nifty ended at 5532.05, up 15.30 points or 0.28 per cent. The broader index touched a high of 5542.65 and low of 5479.85 intraday.

BSE Midcap Index was down 0.25 per cent and BSE Smallcap Index moved 0.17 per cent higher.

Amongst sectoral indices, BSE IT Index was up 0.81 per cent, BSE Healthcare Index advanced 0.71 per cent and BSE Capital Goods Index moved 0.60 per cent higher. BSE Metal Index moved 0.68 per cent lower, BSE Auto Index declined 0.55 per cent and BSE Oil&gas Index slipped 0.36 per cent.

Cipla (2.25%), HDFC (1.74%) HDFC Bank (1.09%), TCS (1.01%), and Infosys Technologies (0.89%) were amongst the major Sensex gainers.

Jaiprakash Associates (-2.54%), Hindalco Industries (-1.61%), Bajaj Auto (-1.53%), M&M (-1.51%) and ONGC (-1.38%) were the major losers.

Market breadth was negative on the BSE with 1326 losers against 1461 gainers.