SENSEX 15882.64 -56.72
NIFTY 4749.65 -15.65
USD/INR 0053.19 -00.11
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UPDATEDTIME 09.28 PM 04 JANUARY 2012
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The Bombay Stock Exchange's Sensex was witnessing a lackluster session
in absence of positive cues from global peers and as bulls took a breather
after a rally a day ago.
On hourly charts, RSI (14) is well above the equilibrium while MACD (12/26/9) is gradually regaining momentum. Adding to it the 13-hour EMA has made a bullish crossover with the 40- hour EMA confirming the change in short-term trend from down to up. Hence current rally is likely to extend towards the key resistance at 4825 and even 4870 in the coming 2-3 days. On the downside, support is seen at 4725 and then 4690 in the immediate front.
Index rallied quite sharply yesterday and further gains would turn the intraday indicators overbought. Hence profit booking seems likely after testing said resistance levels however confirmation from price action is awaited.
Sensex was at 15876.10, down 63.26 points or 0.40 per cent. The 30-share index touched intraday low of 15839.70 and high of 15992.16.
The National Stock Exchange's Nifty was at 4741.60, down 23.70 points or 0.50 per cent. The broader index touched a high of 4780.55 and low of 4733.05 in trade so far.
On the Daily chart, we are observing a strong bull candle with rising gap. Further, the prices have convincingly closed above the short term 5&20 EMA. This suggests further upside momentum.
In view of the rising Gap on the daily chart, we are of the opinion that momentum on the upside is likely to continue. Any close above 4800 level would confirm a higher top higher bottom formation. In such scenario Nifty may test 4850 - 4900 levels in couple of trading sessions. On the downside, the rising gap area of 4675 - 4636 levels may act as support going forward," said Arihant Capital Market report.
BSE Midcap Index was up 0.27 per cent and BSE Smallcap Index moved 0.14 per cent higher.
Amongst the sectoral indices, BSE Auto Index was down 1.29 per cent, BSE Realty Index slipped 0.89 per cent and BSE FMCG Index declined 0.48 per cent. BSE Capital Goods Index was up 0.77 per cent, BSE Power Index gained 0.39 per cent and BSE Healthcare Index moved 0.35 per cent higher.
Bajaj Auto (-4.50%), Mahindra & Mahindra (-3.43%), Hero Moto Corp (-2.59%), DLF (-2.56%) and Hindustan Unilever (-2.26%) were amongst the Nifty losers.
The Delhi High Court today imposed a cost of Rs 2 lakh on realty major DLF while dismissing its plea against market regulator SEBI's order to probe an allegation that it duped a city-based businessman of Rs 34 crore in collusion with its associate firm Sudipti Estates.
The telecoms department plans to impose penalties totaling Rs 1,594 crore on five mobile phone companies for allegedly understating revenues and hence paying lower revenue share during 2006-07 and 2007-08. The department has estimated that Reliance Communications will have to pay penalties to the tune of Rs 551 crore while for Bharti Airtel, it will be Rs 292 crore.
Bharti Airtel was down 2.41 per cent and Reliance Communications declined 2.29 per cent.
BHEL (2.44%), ICICI Bank (1.87%), Tata Motors (1.73%), Cipla (1.35%) and ONGC (0.89%) were the major gainers.
Market breadth was positive on the BSE with 1368 gainers against 1120 losers.
Foreign institutional investors bought shares worth Rs 255.39 crore on Tuesday while Domestic institutional investors bought shares worth Rs 206.51 crore, as per provisional data from stock exchanges.
On hourly charts, RSI (14) is well above the equilibrium while MACD (12/26/9) is gradually regaining momentum. Adding to it the 13-hour EMA has made a bullish crossover with the 40- hour EMA confirming the change in short-term trend from down to up. Hence current rally is likely to extend towards the key resistance at 4825 and even 4870 in the coming 2-3 days. On the downside, support is seen at 4725 and then 4690 in the immediate front.
Index rallied quite sharply yesterday and further gains would turn the intraday indicators overbought. Hence profit booking seems likely after testing said resistance levels however confirmation from price action is awaited.
Sensex was at 15876.10, down 63.26 points or 0.40 per cent. The 30-share index touched intraday low of 15839.70 and high of 15992.16.
The National Stock Exchange's Nifty was at 4741.60, down 23.70 points or 0.50 per cent. The broader index touched a high of 4780.55 and low of 4733.05 in trade so far.
On the Daily chart, we are observing a strong bull candle with rising gap. Further, the prices have convincingly closed above the short term 5&20 EMA. This suggests further upside momentum.
In view of the rising Gap on the daily chart, we are of the opinion that momentum on the upside is likely to continue. Any close above 4800 level would confirm a higher top higher bottom formation. In such scenario Nifty may test 4850 - 4900 levels in couple of trading sessions. On the downside, the rising gap area of 4675 - 4636 levels may act as support going forward," said Arihant Capital Market report.
BSE Midcap Index was up 0.27 per cent and BSE Smallcap Index moved 0.14 per cent higher.
Amongst the sectoral indices, BSE Auto Index was down 1.29 per cent, BSE Realty Index slipped 0.89 per cent and BSE FMCG Index declined 0.48 per cent. BSE Capital Goods Index was up 0.77 per cent, BSE Power Index gained 0.39 per cent and BSE Healthcare Index moved 0.35 per cent higher.
Bajaj Auto (-4.50%), Mahindra & Mahindra (-3.43%), Hero Moto Corp (-2.59%), DLF (-2.56%) and Hindustan Unilever (-2.26%) were amongst the Nifty losers.
The Delhi High Court today imposed a cost of Rs 2 lakh on realty major DLF while dismissing its plea against market regulator SEBI's order to probe an allegation that it duped a city-based businessman of Rs 34 crore in collusion with its associate firm Sudipti Estates.
The telecoms department plans to impose penalties totaling Rs 1,594 crore on five mobile phone companies for allegedly understating revenues and hence paying lower revenue share during 2006-07 and 2007-08. The department has estimated that Reliance Communications will have to pay penalties to the tune of Rs 551 crore while for Bharti Airtel, it will be Rs 292 crore.
Bharti Airtel was down 2.41 per cent and Reliance Communications declined 2.29 per cent.
BHEL (2.44%), ICICI Bank (1.87%), Tata Motors (1.73%), Cipla (1.35%) and ONGC (0.89%) were the major gainers.
Market breadth was positive on the BSE with 1368 gainers against 1120 losers.
Foreign institutional investors bought shares worth Rs 255.39 crore on Tuesday while Domestic institutional investors bought shares worth Rs 206.51 crore, as per provisional data from stock exchanges.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
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