Analysis Of Market Today : Indian Share Market

Hi Folks, Here's the Analysis of  Indian Share Market  Today 21st Sept.'15

Nifty                          :    7977.10 (-0.06% )        Sensex                  :   26192.98 (0.10% )

                                                                      

CNX Midcap             :  12831.45 (+0.58% )       BSE Small Cap   :   10935.30 (+1.21% )

Bank Nifty Index      :  17542.90 (+0.77% )

 Indian Share Market started with  gap down opening and Nifty touched low at 7908 level and after that intraday recovery started which took Nifty to intraday higher at 7987 level today. Short covering / bottom fishing buying was seen across the board since start of the trading session. Nifty touched Inttra  Day High at 7987 level and Low at 7908 level. Nifty and market seen selective buying particularly in shares of Banks, FMCG and Rate Sensitives across the board and the buying was also extended to broader market and bottom fishing / short covering  was seen at every lower level, . It was a day of smart buying / short covering at any dips / at lower level. In technical words, it was a day of short covering / value buying.

 Banking Shares were also came on buyers radar at any dips throughout the trading session. Selective buying was seen at any dip throughout the day including shares of Private and Public Sector banks . Bank Nifty  moved up by 0.77%  due to selective buying in bank's shares.

Now, Nifty have support at 7890 / 7850 level and may face resistance at 8095  / 8120 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels.