Analysis Of Market Today : Indian Share Market

Hi Folks, Here's the Analysis of  Indian Share Market  Today 30th Sept.'15

Nifty                          :    7948.90 (+1.35%)        Sensex                  :  26154.83 (+1.46% )

                                                                      

CNX Midcap             :  12984.50 (+1.91% )       BSE Small Cap   :  11020.83 (+1.07% )

Bank Nifty Index      :  17216.30 (-0.38% )

 Indian Share Market started trading session with  gap up opening and  the up trend was improved gradually as the trading went on during the session . Nifty touched high at 7957 level . Nifty and Market started the Smart recovery after Nifty touched Intraday low at 7874 level . Strong buying / Short Covering  was leaded by shares of  Banks, Capital Goods and Rate Sensitive sectors like Infra and Realty . Nifty touched Intraday  High at 7957 level and Low at 7874 level . Although some profit booking was also seen at higher levels but the Nifty and Sensex ended with strong trend today . It was a day of Value Buying / Short Covering after RBI Policy announcement 50 Basis Points REPO Rate cut yesterday . In technical words, it was a day of  continuation with Hope Rally after RBI Credit Policy .

 Banking Shares were  came under profit booking after Smart up move on yesterday . Profit booking was seen at rise as market participant used the up move to take some profit on tables  particularly in shares of  Public Sector banks . Bank Nifty corrected by 0.38%  due to profit taking in bank's shares.

Now, Nifty have support at 7890 / 7850 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.