Analysis Of Market Today : Indian Share Market

Hi Folks, Here's the Analysis of  Indian Share Market  Today 28th Sept.'15

Nifty                          :    7795.70 (-0.93%)        Sensex                  :   25616.84 (0.95% )

                                                                      

CNX Midcap             :  12727.25 (-0.26% )       BSE Small Cap   :  10916.07 (-0.24% )

Bank Nifty Index      :  17100.30 (-0.56% )

 Indian Share Market started with  gap up opening and Nifty touched higher at 7893 level and after that Selling pressure and Consolidation started which took Nifty to intraday low at 7787 level today. Strong started after the Nifty sustained above 7850 level particularly in the second half of today's trading session after 2.15 PM . Selling pressure was leaded by shares of  Banks, Capital Goods , Metals and Oil Sector . Nifty touched Inttra  Day High at 7893 level and Low at 7787 level . It was a day of  Caution selling / Profit booking ahead of RBI Credit Policy which is scheduled at 11 AM tomorrow .  In technical words, it was a day of  Caution trading ahead of RBI Credit Policy .

 Banking Shares were under profit booking after went through NICE up move in last trading session on Friday ( 24-09-15 ) . Selling pressure was seen at any rise to book profit and several  Banking Shares closed in RED including shares of Private and Public Sector banks . Bank Nifty corrected  by 0.56%  due to profit booking in bank's shares. Although shares of Non Banking Financial Institutions were seen some Selective buying today .

Now, Nifty have support at 7750 / 7720 level and may face resistance at 8060  / 8090 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels.