Hi Folks, Here's the Analysis of Indian Share Market Today 30th Sept.'15
Nifty : 7948.90 (+1.35%) Sensex : 26154.83 (+1.46% )
CNX Midcap : 12984.50 (+1.91% ) BSE Small Cap : 11020.83 (+1.07% )
Bank Nifty Index : 17216.30 (-0.38% )
Indian
Share Market started trading session with gap up opening and the up trend was improved gradually as the trading went on during the session . Nifty touched high at
7957 level . Nifty and Market started the Smart recovery after Nifty touched Intraday low at 7874 level . Strong buying / Short Covering was leaded by
shares of Banks, Capital Goods and Rate Sensitive sectors like Infra
and Realty .
Nifty touched Intraday High at 7957 level and Low at 7874 level .
Although some profit booking was also seen at higher levels but the Nifty and Sensex ended with strong trend today . It
was a day of Value Buying / Short Covering after RBI Policy announcement 50 Basis Points REPO Rate cut yesterday . In
technical words, it was a day of continuation with Hope Rally after RBI Credit
Policy .
Banking
Shares were came under profit booking after Smart up move on yesterday . Profit booking
was seen at rise as market participant used the up move to take some profit on tables particularly in
shares of Public Sector banks . Bank Nifty corrected by 0.38% due
to profit taking in bank's shares.
Now,
Nifty have support at 7890 / 7850 level and may face resistance at 8060
/ 8090 level. Market participants should watch these levels carefully
as the Nifty will give strong move on either side after breaking /
breaching these levels.