SECOND
HALF BETTER
Nifty
8324 +2
Nifty
traded in a narrow range and closed flat for the day. After a huge
upmove last week, market appears to be consolidating or preparing for
the next move. Short term trend continues to remain positive
and stoploss may be raised to 8175. Nifty spot is
expected to encounter resistance at 8365,, 8400 and find support at
8280, 8240 for Wednesday. While Global cues and Funds
flow are expected to broadly guide the market movement, based
on the present market position, market can be expected to be recover
in the Second half of the day.
MARKET FLAT
Mild profit-booking after four days of
consecutive gains pulled the benchmark Sensex today down by about five
points to end at 27,860.38 after hitting record high for the third
session in a row. However, NSE barometer Nifty ended at new record
close of 8,324.15, a marginal gain of 1.95 points, or 0.02 per cent,
after clocking fresh life high of 8,350.60. Trading sentiment was by
and large tepid as participants preferred to stay sidelines ahead of
trading holidays. Among 30 Sensex components, 18 stocks led by GAIL,
CIL, ITC, NTPC, ONGC and BHEL ended down while 12 others were up. The
Sensex resumed higher at 27,943.04 and firmed up further to an all-time
high of 27,969.82 on initial strong buying in view of good foreign
capital inflows. However, it declined afterwards to 27,785.40 before
ending at 27,860.38, showing a marginal loss of 5.45 points or 0.02 per
cent. On Friday, it had zoomed to intra-day record high of 27,894.32
and ended at record close of 27,865.83. On last Thursday, it surged to
previous life high of 27,390.60. In four days ending October 31, it ran
up by over 1,100 points.
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