Markets look to consolidate, as Sensex hovers around 16,000 mark Stocks on Dalal Street are likely to consolidate at current levels after managing to close near highest level of the year. The benchmark index or the Sensex or the Sensex is likey to trade in a band of nearly 100 points with a negative bias.
Stocks mostly fell Friday as investors balked at extending the market's recent rally despite an improved outlook from Intel Corp. Trading was quiet, as it has been all week, as summer vacations kept many traders out of the market.The Dow Jones industrial average fell 36.43, or 0.4 percent, to 9,544.20,the Standard & Poor's 500 index fell 2.05, or 0.2 percent, to 1,028.93 and the Nasdaq composite index rose 1.04, or 0.1 percent, to 2,028.77. Realty and Auto stocks were major gainers where as FMCG and Consumer Durables remained subdues in Friday's trade. Unitech and DLF rallied in a big way giving boost to the Realty sector. There was fund interest in Bharti Airtel, which is close to wrap up the deal with MTN. The stock gained more than 4.5 percent for the day to end at Rs 435.20. Speculators were active in Bhagynagar Ind and the scrip was locked in upper circuit on huge volumes. definitely a stock to sell on rallies. There was some unusual activity in Dhanalakshmi Bank, and it is a scrip worth looking after a surge in stock price on Friday. Other speculator counters to watch would be Omaxe Ltd, Sunflag Iron and Amtek India. We like second rung IT counters for Monday's trade as these stocks are technically looking hot and might outperform for the next two trading days. First Winner Ind, Bartronics Ltd, Tanla Solutions and Austral Coke are some of the stocks that might catch traders attention in today's trade. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance :4747 / 4772 / 4800 / 4838 NIFTY INDEX Support :4695 / 4659 / 4642 / 4605 / 4580 Mean : 4721 Key Numbers for NIFTY on upside 4680 / 4659 / 4642 / 4605 Key numbers for NIFTY on down side 4747 / 4800 BANK NIFTY INDEX Resistance: 7549 / 7617 / 7684 / 7757 BANK NIFTY INDEX Support : 7428 / 7375 / 7280 / 7186 Mean : 7488.5 Previous Close Box: BSE Sensex 15922.34 141.27 NSE Nifty 4732.35 44.15 USD Rs.48.87 Oil Nymex $72.86 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
