Analysis Of Market Today : Indian Share Market

Hi Folks, Here's the Analysis of  Indian Share Market  Today 29th Sept.'15

Nifty                          :    7843.30 (+0.61%)        Sensex                  :   25778.66 (+0.63% )

                                                                      

CNX Midcap             :  12741.05 (+0.11% )       BSE Small Cap   :  10903.71 (-0.11% )

Bank Nifty Index      :  17281.28 (+1.06% )

 Indian Share Market started with  gap down opening and Nifty touched low at 7691 level and after that traded flat and in Consolidation mode till 11.00 AM  as marking was in waiting of announcement of RBI Credit Policy . Nifty and Market started the Smart recovery from lower level after getting good news from RBI Governor that REPO Rate being reduced by 50 Basis Point and SLR will be reduced by 100 Basis Point in a phase manner . Strong buying was leaded by shares of  Banks, Capital Goods and Rate Sensitive sectors like Infra and Realty . Nifty touched Inttra  Day High at 7926 level and Low at 7691 level . Although some profit booking was also seen at higher levels . It was a day of Value Buying / Short Covering after RBI Policy announcement today .  In technical words, it was a day of Hope Rally after RBI Credit Policy .

 Banking Shares were on buyers radar after went through dip correction in last few trading sessions . Buying interest was seen at any dips as Value buying and several  Banking Shares closed in GREEN including shares of Private and Public Sector banks . Bank Nifty moved up  by 1.06%  due to buying in bank's shares.

Now, Nifty have support at 7790 / 7750 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.