Analysis Of Market Today

Hi Folks, Here's the Analysis of  Indian Share Market  Today 26th Aug.'15

Nifty                          :   7791.85 (-1.13% )        Sensex                  :  25714.66 (-1.22% )

                                                                      

CNX Midcap             :  12756.10 (-0.27% )       BSE Small Cap  :   10711.73 (+0.16% )

Bank Nifty Index      : 16917.65 (-1.60% )

Indian Share Market started with  gap down opening and traded in negative range in first an hour of  the day . Nifty and Market faced strong selling pressure at rise after 11.10 AM . Buying interest was seen after Nifty touch low at 7785 level. Nifty touched Inttra  Day High at 7930 level and Low at 7777 level. Nifty and market seen selective strong selling pressure across the board and the selling was also extended to broader market but Some buying was seen in selected Front line, Mid Cap and Small Cap shares after 11.10 AM. It was a day of selling / profit booking from higher levels and buying from lower level. In technical words, it was a day of Consolidation.

 Banking Shares were also came under selling pressure at rise. Selective buying was seen at any dips throughout the day including shares of Private and Public Sector but selling pressure was again surfaced in the second half of trading session . Bank Nifty corrected by 1.60%  due to selling pressure in bank's shares.

Now, Nifty have support at 7720 / 7650 level and may face resistance at 8010  / 8050 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels.