Following weak global cues our stock markets opened on a negative note and remaining lower traded in a narrow range till afternoon session. The stock markets recovered some of the losses in the late session but could not crossover to the positive zone and closed the day on a weak note. Among the sectoral indices Consumer Durables and Auto gained while Oil & Gas and IT were the major losers. Among the Sensex stocks Heromotco (5.16%), Jaiprakash Associates (4.20%) and Bajaj Auto (2.74%) were the major gainers Wipro (3.65%), ONGC (2.67%) and Infosys (2.23%) were among the losers. The Sensex lost 108 points or 0.64% to close at 16,713 while Nifty lost 23 points or 0.45% to close at 5,017.
In equities both FIIs & DIIs were net buyers of (Rs 133 cr) and (Rs 147 cr) respectively. On the derivatives side, FIIs were net sellers in Index Futures (Rs 566 cr), Index Options (Rs 113 cr), Stock Options (Rs 23 cr) while they were net buyers in Stock Futures (Rs 350 cr).
Support and Resistance for nifty(07-September-2011, Wednesday)
The resistance for Nifty for today's market at 5120-5200 and the support level for nifty be at 4950.
Stock tips :
Buy ITC Ltd above 203.00, target 230.00 for 1 Year
Buy Reliance Industries Ltd above 822.50, target 870.00 for 2 Weeks
Buy Tech Mahindra Ltd above 665.00, target 715.00 for 1 Month
In equities both FIIs & DIIs were net buyers of (Rs 133 cr) and (Rs 147 cr) respectively. On the derivatives side, FIIs were net sellers in Index Futures (Rs 566 cr), Index Options (Rs 113 cr), Stock Options (Rs 23 cr) while they were net buyers in Stock Futures (Rs 350 cr).
Support and Resistance for nifty(07-September-2011, Wednesday)
The resistance for Nifty for today's market at 5120-5200 and the support level for nifty be at 4950.
Stock tips :
Buy ITC Ltd above 203.00, target 230.00 for 1 Year
Buy Reliance Industries Ltd above 822.50, target 870.00 for 2 Weeks
Buy Tech Mahindra Ltd above 665.00, target 715.00 for 1 Month
