After a gap-down start, the Indian Share Market is now trading lower with the Nifty looking poised to breach the 5300 levels on the downside. Sensex is trading at 17453, down 183 points from its previous close, and Nifty is at 5303, down 55 points.
CNX Midcap index is down 1.1% and BSE Smallcap index is down 0.3%. The market breadth is negative with advances at 391 against declines of 834 on the NSE.
I C I C I Bank contributed fall of 27.32 points in the Sensex. It was followed by Larsen & Toubro (19.35points), State Bank Of India(18.43 points), Reliance Industries(13.28 points) and H D F C Bank (8.71 points).
However, Bharti Airtel contributed rise of 3.68 points in the Sensex. It was followed by Reliance Infrastructure (1.24points), Maruti Suzuki India (0.59 points), Sun PharmaceuticalIndustries (0.38 points) and Tata Power Company (0.29points).
Biggest gainers in the 30-share index were Bharti Airtel (0.69%), Maruti Suzuki India (0.27%), Sun PharmaceuticalIndustries (0.14%), and Tata Power Company (0.13%).
On the other hand, Jindal Steel & Power (2.68%), State Bank Of India (2.48%), Larsen & Toubro (2.21%), I C I C I Bank (2.16%), Bharat Heavy Electricals (1.98%), and HindalcoIndustries (1.93%) were the biggest losers in the Sensex.
BUY Reliance Capital at 436 Stop Loss 434 Target 455-460.
SELL ICICI Bank Ltd. Intraday Target 867 Stop Loss 890.
SELL Bajaj Auto with a target of Rs 1650 and stop loss of Rs 1750.
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Nifty Technical Levels For Today
PP - 5393, S1 – 5350, R1 – 5433, S2 – 5310, R2 - 5475
