Break out with volumes

The Nifty has closed in the positive today and is now
expected to head higher till 5300 with support around 5232
in the short term. A key support in the immediate run would
be around 5232 and resistance will be faced at 5300.
Of the 30 stocks of the Sensex, Jindal Steel and BHEL are
expected to move up further going forward.
The Nifty has broken out of a triangular pattern with a
break-away gap and has also closed above the 20-week
moving average (WMA) ie 5194, which is a positive sign for
the market. The Nifty is now expected to retrace 61.8% or
78.6% ie 5300 and 5450 respectively of the previous fall
from 5630 to 4770.
Other technical observations:
On the daily chart the Nifty is trading above its 20-day
moving average (DMA) and 40-DMA ie 5085 and 5082
respectively. The momentum indicator has turned in the
positive mode on the daily chart.
On the hourly chart, the Nifty is trading above its 20-hour
moving average (HMA) and 40-HMA ie 5184 and 5171
respectively, which are crucial intraday levels. The hourly
chart momentum indicators have turned into positive mode.
The market breadth was positive with 1102 advances to
405 declines on the NSE.
x
28

Resistance @ 5220

The Nifty has closed in the positive today and is now
expected to trade higher till the 5330 mark in the
immediate run. A key support in the immediate run is
around 5233 and resistance will be faced at 5330.
The Nifty ended in the positive with a gain of 116 points
while the Sensex added 345 points in today’s trading.
Of the 30 stocks of the Sensex, Hindalco and Mahindra
& Mahindra are expected to move up further going
forward.
The Nifty had been trading in the range of 5300 and
5130 forming a falling wedge pattern, which has now
broken out on the upside. The Nifty is now expected to
trade positive till 5385 in the short term, which is the
upper end of the falling trend line on the daily chart.
On the daily chart the Nifty has again taken support
around the 200 day moving average (DMA) ie 5150,
which will act as a very crucial support going forward.
The Nifty is now expected to move up till 5385 levels
with support around 5135. But if the Nifty sustains
itself below the 200 DMA and 5135 levels, then the
negative alternates will open up.
On the daily chart the Nifty is trading around its 20
DMA and 40 DMA ie 5292 and 5269 respectively. On the
daily chart the momentum indicator has given a
negative crossover and is trading below the zero line.
On the hourly chart, the Nifty is trading above its 20
hour moving average (HMA) and 40 HMA ie 5212 and
5233 respectively, which are its crucial levels in the
immediate run. The hourly momentum indicators have
given a positive crossover and are trading above the
zero line. The market breadth was positive with 1143
advances to 366 declines on the NSE.

Engulfing bear

The Nifty has closed in the negative today and is now
expected to trade lower till 4530. A key support in the
immediate run is around 4580 and resistance will be
faced at 4660.

The Nifty ended in the negative with a loss of 22 points
while the Sensex lost 89 points in today’s trading. Of
the 30 stocks of the Sensex, Reliance Industries and
Tata Steel are expected to move down going forward.
The Nifty has given a negative close on the yearly chart
with an engulfing bear pattern, which is a bearish sign
going forward. The Nifty has been sliding down in the
last few trading sessions, closing below the crucial level
of 4693, which is a bearish sign for the market in the
short term. On the daily chart the index had taken
resistance around its 20 day moving average (DMA)
and has now started the next leg down. The Nifty had
bounced last week in an A-B-C corrective pattern and
has started the next leg down with a target of 4480 in
the short term. Overall on the daily chart the Nifty has
completed wave A and wave B, and the next leg on the
down side as wave C has started.

On the daily chart the Nifty is trading below its 20 DMA
and 40 DMA ie 4774 and 4838 respectively. The
momentum indicator has given a negative crossover
and is trading below the zero line on the daily chart.
On the hourly chart, the Nifty is trading below its 20
hour moving average (HMA) and 40 HMA ie 4676 and
4691 respectively, which are its crucial levels in the
immediate run. The hourly momentum indicators have
given a negative crossover and are trading below the
zero line. The market breadth was negative with 715
advances to 757 declines on the NSE.

Resistance @ 20 DMA

The Nifty has closed in the negative today after a sharp
bounce yesterday; it is now expected to slip down till
4700 in the short term. A key support in the short term
would be around 4900 while resistance will be faced at
5035.

The Nifty ended in the negative with a loss of 72 points
while the Sensex dropped 244 points in today’s trading.
Of the 30 stocks of the Sensex, Kotak Mahindra Bank
and Hindalco Industries are expected to fall further
going forward.

The Nifty has taken resistance around its 20 day moving
average (DMA) ie 5006 and has closed in the negative,
which is a bearish sign for the market. The Nifty has
bounced to retrace the previous correction from 5168
to 4758 and has also taken resistance at the 61.8%
retracement level. The Nifty has retested the previous
swing low of 4720. If it sustains below the same then
the next leg down will confirm for a target of 4350.
On the daily chart the Nifty is trading below its 20 DMA
and 40 DMA ie 5014 and 5075 respectively. On the daily
chart the momentum indicator has given a negative
crossover and is trading below the zero line. On the
hourly chart, the Nifty is trading around its 20 hour
moving average (HMA) and 40 HMA ie 4961 and 4958
respectively, which are its crucial levels in the
immediate run. The hourly momentum indicators have
given a negative crossover and are trading above the
zero line. The market breadth was negative with 505
advances to 954 declines on the NSE.

Nifty index surged higher

The Nifty index surged higher on Monday.

We think this face of advancement will be substantial, as it is a third wave within a larger fifth wave.

Ultimate targets in the area of 6000 to 6300 are not unreasonable.

The trend in Indian equities is firmly higher.

Nifty get support at 5,330

The markets moved in an extremely tight range for the third straight week. The Nifty made a lower high of 5,466 and found support at 5,349. The index ended the week with a loss of 82 points at 5,367.
The Sensex moved in a range of 355 points. The index touched a high of 18,194 and then slipped to a low of 17,839. The Sensex finally settled with a loss of 263 points at 17,868.
For the last three weeks, it seems that the Nifty is facing resistance as it approaches the 5,500 mark. At the same time, the index has been able to seek support around 5,350. Next week, the index may seek support around 5,330. However, a breakout in either direction, that is, above 5,500 or below 5,330, could trigger the next move.
In August, the Nifty is likely to move in a broad range of 300 points. On the upside, the index is likely to advance towards 5465-5495-5525. On the downside, the index may decline to 5270-5240-5210.

Weekly momentum turns positive

The Nifty has achieved the conservative target of the
inverted head-and-shoulder pattern quite smoothly. Now,
on the upside there is a resistance at the previous high of
5400. Hence the Nifty needs to clear that obstacle to go
higher. On the lower side, the hourly averages are good
short-term supports. Now, above 5330 the Nifty is likely
to make a new high, ie above 5400, to achieve the
aggressive target of the inverted head-and-shoulder
pattern that is at 5500. The interesting point to note is
that the weekly KST has come into buy mode which is quite
positive for the medium-term bulls too. Hence, we maintain
our short-term bias up.

Markets in the new Resistance Zone

The markets, as expected, crossed the 18,000-mark during the week, all due to a solid start. Despite Thursday’s weakness, the markets were able to extend gains for the ninth straight week.

The Sensex touched a high of 18,048 in the middle of the week. Thereafter, it corrected and ended with a gain of 241 points at 17,933. In the process, the index gained 12.7 per cent (2,017 points) at 17,933.

Going by the current trend, it seems the markets are likely to start the week on a positive note, however, the second half of the week could see selling pressure. The nine-week rally may end this week, if the index is unable to sustain above 18,050.

The momentum indicators on the weekly charts are indicating tiredness, and we may see net losses, albeit marginal, next week. The index is likely to face considerable resistance around 18,075, above which it may spurt up to 18,150. On the downside, the index is likely to find support around 17,790-17,700. A break of 17,700 could trigger significant selling during the week.

The NSE Nifty moved in a range of 109 points, it touched a high of 5,400 and a low of 5,290. The Nifty finally settled with a gain of 71 points at 5,362.

The Nifty is likely to face considerable resistance around 5,432, which is the higher end of the Bollinger band on the weekly charts. The daily chart indicates resistance around 5,407. Bulls should continue to have the upper hand, as long as the index sustains above 5,400. On the negative front, selling pressure may intensify when the index slips below 5,320.

Weekly gains in Nifty continues

On April 01, 2010 Nifty closed in green today, preventing a negative weekly
close—thereby keeping hopes alive for the bulls and testing
the patience of bears. The daily momentum continues to be
in a sell mode, whereas the hourly momentum has come into a
buy mode but trading below the zero reference line, thus
falling short of confirming that the trend has again reversed
on the upside. The market breadth has improved over the last
couple of days but the volumes continue to be low even after
the breakout from the high of the bearish engulfing candlestick
pattern formed on the monthly charts on the Sensex—this is
not a good sign. Nifty formed a hammer candlestick pattern in
Q3 and Doji star candlestick pattern in Q4 almost gaining
nothing in the six months. Nifty has formed a 5 wave declining
pattern on hourly charts in the fall since Tuesday and has
retraced almost 61.8% of its fall from 5330 to 5235. Going ahead,
the high of 5330 remains a crucial resistance and 5266 a crucial
support for if the index breaches 5266, it will slide sharply. So,
keep an eye on these two levels i.e. 5330 and 5266—the next
trend deciders. We continue to maintain our short-term bias
down with the reversal above 5330.

Nifty on hourly chart is trading above its 20 hourly moving
average (HMA) and 40HMA pegged at 5277 and 5276
respectively, which are now its short-term supports. The
hourly momentum indicator KST has turned into buy mode
and now trading below the zero reference line.

Nifty on daily chart is trading above its 20 daily moving average
(DMA) and 40 daily exponential moving average (DEMA) placed
at 5196 and 5028 respectively, which are now its short-term
supports. The momentum indicator (KST) has given a negative
crossover and trading above the zero line. The market breadth
was positive with 1,099 advances and 253 declines on the NSE
and 2,212 advances and 608 declines on the BSE.

The Nifty and Sensex were up by 41 points and 165 points
respectively.

Nifty Close to bearish engulfing

After giving a breakout from the triangular pattern, Nifty on Mar 26, 2010 continues to trade on upside surpassing the resistance of 5270 and just shy of 5310—the previous swing high made in January when it had formed a monthly bearish engulfing pattern. The index is trading in an upward parallel channel and above 5310. The next target is 5470—the upper end of the parallel
channel. On the lower side, 5260 and 5210 are good short-term supports. The daily KST continues to be in a sell mode, but the hourly KST has come into buy mode making the bulls comfortable. Nifty has given its seventh consecutive positive weekly close in a row, which depicts the strength of bulls. With this, we continue to maintain our short- and medium-term bias up.


Nifty on the hourly chart is trading above its 20 hourly moving average (HMA) and 40HMA placed at 5240 and 5234 respectively, which are now its short-term supports. The hourly momentum indicator KST has turned into buy mode and is now trading near the zero reference line.


Nifty on the daily chart is trading above its 20 daily moving average (DMA) and 40 daily exponential moving average (DEMA) pegged at 5136 and 5082 respectively, which are now its short-term supports. The momentum indicator (KST) has given a negative crossover and is trading above the zero line. The market breadth was negative with 572 advances and 772 declines on the NSE and 1,200 advances and 1,651 declines on the BSE.


The Nifty and the Sensex added 22 and 86 points to its kitty respectively.

Nifty has posted a positive weekly close

On Feb 11, 2010 Nifty has posted a positive weekly close, which clearly signals that this is a pullback of the fall from 5310 to 4675, which was a five-wave decline. From here, Nifty may test its 20 daily moving average (DMA), which is near 38.2% retracement level and this is also our short-term target. So, on a short-term basis the trend is up for the pullback, till 4748 holds and on the medium term the trend remains down. On the daily charts, the momentum indicator is in buy whereas on the weekly charts the indicator is in sell. This shows that the index is just retracing its fall, which again will be followed by an impulsive down-move. The strong resistance on the upside is at the 20 weekly exponential moving average (WEMA), hence the pullback can stretch to the maximum till the 20 WEMA.

On the daily chart, Nifty is trading below its 20 DMA and 40 daily exponential moving average (DEMA) pegged at 4941 and 4980 respectively, which are the near-term resistance. The momentum indicator (KST) has given a positive crossover and is trading below the zero line. The market breadth was positive with 799 advances and 492 declines on the NSE and 1,617 advances and 1,194 declines on the BSE.

On the hourly chart, Nifty is trading above its 20 hourly moving average (HMA) and 40 HMA placed at 4795 and 4775 respectively, which are now the short-term supports. The momentum indicator (KST) has given positive crossover and is trading above the zero line.

Nifty and Sensex were 70 and 230 points up respectively.

Irrational recovery in Nifty

On Feb 09, 2010 Nifty opened flat and was trading negative one hour into the trade. However it recovered thereafter to make higher highs and higher lows on the hourly chart. The index has been holding on to its 20DMA pegged at 4655 and has bounced back from there--a bullish sign in the short term. On the daily chart, the NSE benchmark has fallen in a 5 - wave pattern from 5302 to 4675 and expected to retrace around 50% i.e. 5010 levels of the fall. The index had formed an outside bar and has given a breakout on the upside, which is a bullish sign for the market. So, until 4675 is intact the index should retrace the fall and take resistance at 20 DMA.

The index is currently trading below its 20 DMA and 40 DMA placed at 4986 and 4999
respectively, which are crucial resistance levels going forward. The momentum indicator (KST) is on the verge of giving a positive crossover and trading below the zero line.

On the hourly chart, Nifty is trading above its 20 hourly moving average (HMA) pegged at 4747, which is a crucial support in the immediate run. The momentum indicator (KST) has given a positive crossover and trading around the zero line. The market breadth was positive with 707 advances and 587 declines on the NSE.

Both the indices ended higher—Nifty 32 points and the Sensex 106 points up.

Market Now Making Base Before Starting the New Phase of Bull Run

The markets ended lower for the second straight week as rate hike fears, global cues and futures & options expiry weighed on the sentiment. The Sensex fell below 16,000 for a brief while and touched a low of 15,982. It eventually ended with a loss of 502 points at 16,358.

Sensex has broken the 16,100 support during the week, the trend becomes negative for the next next month as well. The index will have to overcome the 17,470 level to change its quarterly trend. One needs to closely watch the 15,380 level, as a breach of this level may change the long-term trend into negative. In the short term, the 16,900-17,100 range is likely to prove a major hurdle for the Sensex.

Next week, the Sensex is likely to face resistance around 16,700-16,805-16,915. On the downside, the index is likely to find support around 16,015-15,910-15,800.

The NSE Nifty moved in a range of 270 points, from a high of 5,036, the index dropped to a low of 4,766, and finally settled with a loss of 154 points at 4,882.

Momentum indicators such as the Moving Average Convergence Divergence and the Stochastic slow are in the oversold zone, while the 9-day Relative Strength Index and the Directional Index are indicating a pullback in the short term.

The Nifty long-term support is at 4,615, which is its 200-day Daily Moving Average. The Fibonacci retracement of 2009 indicates support at 4,180. Next week, the index may find support at 4,825-4,750-4,715, while it may face resistance around 4,985-5,015-5,050.

In the Monthly charts the MACD indicater for Nifty and Sensex are below 0 line. Now next month i.e. in Febuary 2010 the Market will consolidate and by the second week of March 2010 the market will start its next course of Bull Run just as it started in 2003.

Trendline broken Resistance at hourly averages

Today on Jan 22, 2010 Nifty has finally breached the major trend line support, where it had stopped yesterday after breaking out from wedge pattern. It took support at the low from where it started its final rally, which is also the close of the previous hammer candlestick pattern. Hence, 4943 was a crucial support which market did hold. Now, going ahead, 5170 remains a very strong resistance in the medium term and 5130 a strong resistance in the short term. Nifty has also posted a negative weekly close with strong volumes on futures and options front--one of the indicators that the index has begun its next move down.

In nutshell, the bounce if any will not be sustainable and hence should be used for going short. On the daily chart, Nifty is trading below its 20 daily moving average (DMA) and 40 daily exponential moving average (DEMA) i.e. 5211 and 5134 respectively, which are resistances in the near term. The momentum indicator (KST) has given negative crossover and is below the zero line. The market breadth was badly negative with 313 advances and 1,021 declines on the NSE and 842 advances and 2,043 declines on the BSE.

On the hourly chart, Nifty is trading below its 20 hourly moving average (HMA) and 40HMA i.e. 5214 and 5221 respectively, which are now the resistances in the short term. The momentum indicator (KST) has given positive crossover but is trading below the zero line.

Bulls stage fierce recovery to 5050 levels

Today, Nifty staged a strong bounce-back from its intraday
low, giving a close above the psychologically important
5050, which is 78.6% retracement of the previous fall.
However, to gain more strength, it needs to close above
5080. On lower side, 4920 was held as good support in
the short term. Going forward too, till this level is held
we may see good amount of buying. Nifty posted a weekly
positive close; Toast to the bulls. The index also closed
above 5050 giving further conviction for the up-move—
Cheers to the bulls. But, till the swing high is not surpassed
we maintain our bias down, as today’s move is anticipated
just as retracement of this fall.
On daily chart, Nifty is trading above its 20 daily moving
average (DMA) and 40 DMA at 4914 and 4894 respectively,
which are now supports in the near term. The momentum
indicator (KST) has given positive crossover and is close
to the zero line. The market breadth was positive with
736 advances and 544 declines on the NSE and 1,519
advances and 1,321 declines on the BSE.
On hourly chart, Nifty is trading above its 20 hourly moving
average (HMA) and 40 HMA at 5001 and 5027 respectively,
which are now supports in the short term. The momentum
indicator (KST) has given positive crossover and is trading
close to the zero line.
Nifty and Sensex ended in green gaining 63 and 236 points
each. Of the 30 stocks of Sensex, Hindalco Industries (up
3.47%) and ACC (up 4.55%) were the top gainers, while
Bharti Airtel (down 1.40 %) and Reliance Infrastructure
(down 0.62%) were the top losers.

Resistance at 5050 held and Rising wedge broken

Nifty finally could not sustain above 5050 despite several
attempts by the bulls and the bears were successful in
dragging it below 5000. The downturn has resumed exactly
from 78.6% retracement of the fall from 5182 to 4538,
which signals that the pullback of the fall is almost over.
This will be confirmed once we get a weekly negative
close. The index was moving up with an absolute negative
divergence between prices and volumes, with prices and
oscillators giving an early sign of weakening momentum
and limited upside. However, on the lower side 16370 on
Sensex and 4860 on Nifty are crucial supports.
On daily chart, Nifty is trading above its 20 daily moving
average (DMA) and 40DMA at 4890 and 4964 respectively,
which are now the supports in the near term. Momentum
indicator KST has given positive crossover and is close to
the zero line. The market breadth was negative with 386
advances and 877 declines on NSE and 1,131 advances
and 1,740 declines on BSE.
On hourly chart, Nifty is trading above its 20 hourly moving
average (HMA) and 40 HMA at 5040 and 5021 respectively,
which are now the resistances in the short term.
Momentum indicator KST has given negative crossover
and is trading below the zero line.
Nifty and Sensex ended in red losing 66 and 213 points
respectively. Of the 30 stocks of Sensex, ACC (up 0.41%)
and HDFC (up 0.44%) were the top gainers while Hindalco
Industries (down 3.46 %) and Reliance Infra (down 3.90%)
were the top losers.

Rising wedge- bearish pattern

Nifty is managing to stay above 5050, but struggling to
move higher on account of weakening momentum on
hourly charts. There’s been a continuous negative
divergence between the index price and momentum, so
the only thing which can lead to higher moves is
maintaining the averages on hourly as well as daily charts.
The volumes too are drying at higher levels. So, in short
term Nifty above 5050 can go up to 5150, which is also
our short-term target. Nifty is forming a rising wedge
pattern which favours bears. In nutshell, there is a crucial
support at 5030 and 4940 on the lower side, and till those
are maintained we may see some buying at lower levels.
On the daily chart, Nifty is trading above its 20 daily
moving average (DMA) and 40 DMA at 4894 and 4901
respectively, which are now the supports in the near term.
The momentum indicator (KST) has given positive
crossover and is close to the zero line. The market breadth
was positive with 720 advances and 555 declines on NSE
and 1,635 advances and 1,273 declines on BSE.
On hourly chart, Nifty is trading above its 20 hourly moving
average (HMA) and 40 HMA at 5048 and 4997 respectively,
which now are the supports in the short term. The
momentum indicator (KST) has given negative crossover
and is trading close to the zero line.
Nifty and Sensex ended in red marginally 8 and 52 points
respectively. Of the 30 stocks of Sensex, Tata Motors (up
3.14%) and TISCO (up 1.68%) were the top performers
while ICICI Bank (down 1.47%) and Reliance Infrastructure
(down 3.20%) were the weak performers.

Volume and price-Negative divergence

Nifty opened negative but recovered from its lows in the
second half of today’s session giving a Doji close in the
end. This signals that traders are indecisive about the
next move on the index. Nifty traded in the range of 5000-
5080, closing just above the 5050 mark, which is 78.6%
retracement of the fall from 5180 to 4538. Still the close
above this level is not convincing enough. Hence, Nifty
has to sustain above this level to gain further strength.
On lower side, 4940 and 4860 are the two crucial supports
which are holding Nifty up. So till these levels are
maintained we may see some buying on the lower side.
The interesting thing about this rally is that there is a
negative divergence between volumes and index price--
the price is rising at declining volume because of which
the whole move becomes a bit skeptical. So the volume
should support the further increase in price or else we
might see the downtrend resuming.
On the daily chart, Nifty is trading above its 20 daily
moving average (DMA) and 40 DMA at 4897 and 4961
respectively, which are now the supports in the near term.
The momentum indicator (KST) has given positive
crossover and is close to the zero line. The market
breadth, the number of advancing shares to declining
shares, was negative with 592 advances and 678 declines
on the NSE and 1,361 advances and 1,503 declines on the
BSE.
On the hourly chart, Nifty is trading above its 20 hourly
moving average (HMA) and 40 HMA at 5011 and 4891
respectively, which are now the supports in the short term.
The momentum indicator (KST) has given negative
crossover and is trading close to the zero line.
Nifty and Sensex ended in green marginally, up by 4 points
and 18 points respectively. Of the 30 stocks that make
the Sensex, Tata Consultancy Services (up 3.67%) and Hero
Honda Motors (up 2.41%) were the top performers while
ONGC (down 2.29%) and ACC (down 2%) were the weak
performers.

Bulls Vs Bears Neck to neck

Nifty opened in green and traded in a very narrow range
of 5030-5080. Today, Nifty finally managed to surpass 5050
level, which is 78.6% retracement of the fall from 5182 to
4538, but has just closed near it, which is a dicy signal
going ahead. Above 5050 levels, gates are now open for
our short-term target of 5150. The daily oscillator has
given positive signal, which is good sign in the near term,
but it is trading below the zero reference line, which is
the only concern in the medium term. The volume remains
average throughout the rally. So, a convincing close above
78.6% retracement level will only help Nifty to gain further
strength. Till then 4940 and 4860 remain crucial supports
on lower side.
On daily chart, Nifty is trading above its 20 daily moving
average (DMA) and 40DMA at 4901 and 4956 respectively,
which are now supports in the near term. The momentum
indicator (KST) has given positive crossover and is around
the zero line. The market breadth was positive with 837
advances and 439 declines on the NSE and 1,780 advances
and 1,142 declines on the BSE.
On hourly chart, Nifty is trading above its 20 hourly moving
average (HMA) and 40HMA at 5011 and 4891 respectively,
which are now supports in the short term. The momentum
indicator (KST) has given negative crossover and is trading
above the zero line.
Nifty and Sensex gained 59 and 184 points each. Of the
30 stocks of Sensex, Maruti Suzuki India (up 5.45%) and
Reliance Communications (up 3.05%) were the top
performers while Tata Consultancy Services (down 0.63%)
was the weak performer.

Nifty Triple top formation

Nifty traded in a range of 5030-4940 finally closing around
5000. It is struggling to sustain above 5000 as there exist
a crucial resistance at 5050 which is 78.6% retracement
of the fall from 5182-4538. On the down side 4940 acted
as a support below which 4850 is the crucial support for
the market. The hourly oscillators are in sell mode giving
negative divergence. Nifty has made triple top above
5000, so going forward it becomes important for Nifty to
surpass it to gain more strength failing which open gates
for lower levels. So, above are the levels which remain
key as breach of any will lead to major move.
On the daily chart, Nifty is trading below its 20DMA and
40DMA i.e. 4907 and 4951 respectively, which are now
supports in the near term. The momentum indicator (KST)
has given positive crossover and is around the zero line.
The market breadth was negative with 617 advances and
651 declines on the NSE and 1422 advances and 1440
declines on the BSE.
On the hourly chart, Nifty is trading above its 20HMA and
40HMA i.e. 4969 and 4891 respectively, which are now
supports in the short term. The momentum indicator (KST)
has given negative crossover and is trading above the
zero line.
Nifty and Sensex gained 46 and 153 points each. Of the
30 Stocks of Sensex Maruti (up 3.90%) and Ongc (up
3.07%) were the Top performers while Ranbaxy (down
0.38%) and Cipla (down 0.38%) were the weak performers.