Hi Folks, Here's the Analysis of Indian Share Market this Week for week ending 29th April '16
Nifty : 7849.80 (-0.63% ) Sensex : 25606.62 (-0.90% )
NIFTY Midcap 100 : 13195.30 (-0.38% ) BSE Small Cap : 11042.52 (-0.32% )
NIFTY BANK : 16795.00 (+0.55% ) Dollar V/s Rupee : 66.33 (+0.24% )
(1) LIC Housing Fin.: 3.62% (2) India Cement : 3.63% (3) Den Network : 3.52%
(4) Bajaj Finance : 3.46% (5) Bayer Crops : 3.28% (6) Federal Bank : 2.84%
(7) Hero MotoCorp : 2.84% (8) City Union Bank : 3.03%
(1) Amtek Auto : 16.76% (2) Future Retail : 13.11% (3) Oberoi Realty : 12.05%
(4) Sobha Developers : 11.73% (5) CRISIL Ltd : 9.66% (6) DCB Bank Ltd : 9.01%
(7) Crompton Greaves Ltd : 7.81% (8) Hind Copper Ltd : 7.59%
Analysis Of Nifty Movements
Indian Share Market and Nifty started this week's trading with GAP DOWN to FLAT opening and tried to move up but this up move was unable to sustained due to selling pressure was started after Nifty touched 7991 / 7992 Level on 3rd and 4th trading session of this week .
The selling pressure started from higher levels which compelled Nifty to touch low at 7834 / 7788 Level on 4th and 5th trading session . Market sentiments converted to Bullish particularly after big players like FII are regular buyer after Union Budget . Big market players like
DII are booking profit at rise whereas Big player FII are buying to build their Portfolio after NICE correction since last two / three months. Nifty made weekly high at 7992
level on 4th trading session ( As Intra day High ) . Market participant DII used every sharp rise to book profit in selected shares after strong Buying started by FII during this week. Although FII sold in Cash Segment on 5th trading session of this week .
Nifty settled the Weekly Closing at 7849 which its lower than of last week's closing at 7899 level . Bank Nifty settled this week end at 16795 which is its higher closing than last week's closing . Indian Rupees settled this week end at 66.33 against US Dollar which is its marginal Gains than last week's closing .
Nifty settled the Weekly Closing at 7849 which its lower than of last week's closing at 7899 level . Bank Nifty settled this week end at 16795 which is its higher closing than last week's closing . Indian Rupees settled this week end at 66.33 against US Dollar which is its marginal Gains than last week's closing .
NIFTY Mid Cap100 Index down by 0.38% and BSE Small Cap Index down by 0.32%, Nifty corrected marginally by 0.63% , Sensex also corrected marginally by 0.90% and Bank Nifty shown marginal recovery of 0.55% during the week. Indian Rupee was also raised against US $ by 0.24%
Now, Nifty have support at 7780 / 7720 level and resistance at 7980 / 8010 level. Market participants should watch these level closely as Nifty will give a sharper move on either side after breaching the same. Its a market of Buying at sharp dips and Selling at any sharp rise to remain strong with safe profit on the table, So market participants should Buy at any sharp dips and should book profit at any sharp rise to make nice profit in short term.
Nifty need to cross and sustain above 7860 level which will indicate for Nifty to be entered in New Bullish Zone now. It means Nifty will show signal for heading towards New BULL Orbit for SHORT TERM after crossing and sustaining above 7860 level . So market participants should trade very carefully as the Author expecting strong Selling pressure may happened if Nifty able to breach and Sustain below 7860 level now.