CAUTION AT HIGHER LEVELS
Nifty gained for the Second day and closed above 7400 mark ,
highest ever close. However, Nifty could face strong resistance around 7500 and
get support too around 7200 mark.. While
Global cues, Quarterly results and Funds flow
are expected to broadly guide the market movement, based on the present
market position, market can be expected to face resistance at higher levels (in
the forenoon) and could drift lower on profit booking .
Nifty
Review for Tuesday :: Market Positive despite a non event RBI Policy !!!
Market gained for the Second day of the week as
Energy,
Metal stocks lead gains. RBI maintained status quo in respect of
interest rates
but lowered SLR by 0.50%, infusing liquidity into the system. 31 of
Nifty
stocks gained and broader market too was
quite positive with Advance Decline
ratio at about 1.4:::1. Metal, Realty,
Energy, Media indices gained while FMCG,
Pharma, PSU Bank indices ended in the red. ONGC, HDFC, Reliance and
Tata Steel contributed about 30 points to Nifty’s gain. .
Tata Steel, SSLT, Coal India, DLF, Grasim remained major gainers among Nifty stocks while Dr Reddy, HCL Tech,
Indusind Bank, GAIL, Kotak Bank
remained losers.
IB Real estate, Tata Steel, Havells, Adani Ports. Hind Zinc remained major gainers
among F&O stocks while Just Dial, Allahabad Bank, HCL Tech, Orient Bank,
Dr Reddy declined among F&O stocks.
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