Analysis Of Market Today

Hi Folks, Here's the Analysis of  Indian Share Market  Today 27th Aug.'15

Nifty                          :   7948.95 (+2.02% )        Sensex                  :  26231.19 (+2.01% )

                                                                      

CNX Midcap             :  13105.30 (+2.74% )       BSE Small Cap   :  10985.54 (+2.56% )

Bank Nifty Index      : 17214.40 (+1.75% )

Indian Share Market started with  gap up opening and traded in positive territory throughout the day . Strong buying interest was seen across the board since start of the trading session. Nifty touched Inttra  Day High at 7957 level and Low at 7862 level. Nifty and market seen  strong buying across the board and the buying was also extended to broader market but Some profit booking  was seen at higher level, perhaps due to Expiry of August'15 month. It was a day of  buying / short covering at any dip at lower level. In technical words, it was a day of  short covering. Shares of Adani Enterprise, Escorts Ltd, HDFC Ltd, IB Real Estate and JP Associate were in top gainers of the day.

 Banking Shares were also came on buyers radar after smart correction since last few trading sessions.  Selective buying was seen at any dips throughout the day including shares of Private and Public Sector banks even after the August month's Expiry day. Bank Nifty moved by 1.75%  due to buying in bank's shares.

Now, Nifty have support at 7880 / 7850 level and may face resistance at 8090  / 8150 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels.