Analysis Of Market Today : Indian Share Market

Hi Folks, Here's the Analysis of  Indian Share Market  Today 22nd Sept.'15

Nifty                          :    7812.00 (-2.07% )        Sensex                  :   25651.84 (-2.07% )

                                                                      

CNX Midcap             :  12655.15(-1.37% )       BSE Small Cap   :     10802.87 (-1.21% )

Bank Nifty Index      :  17031.20(-2.92% )

 Indian Share Market started with  gap up opening and Nifty touched high at 8021 level and after that selling pressure started which took Nifty to intraday low at 7787 level today. Strong selling pressure started when the Nifty sustained bellow 7900 level. Selling pressure was so strong that 49 shares of Nifty 50 were closed in red , Wippro Ltd was the only share which able to closed in green today . Selling  was seen across the board since start of the trading session  Banks, Capital Goods, FMCG, and Metals Lead the starting of fall today . Nifty touched Inttra  Day High at 8021 level and Low at 7787 level . It was a day of panic selling after opening of European Markets and USA Dow futures also opened negative in the noon . In technical words, it was a day of  profit booking and short selling .

 Banking Shares were also came on sellers radar at any rise throughout the trading session. Strong selling  was seen  and all the Banking Shares closed in RED including shares of Private and Public Sector banks . Bank Nifty corrected up by 2.92%  due to strong selling in bank's shares.

Now, Nifty have support at 7860 / 7710 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.