Analysis Of Market Today

Hi Folks, Here's the Analysis of  Indian Share Market  Today 1st Sept.'15

Nifty                          :   7785.85 (+2.33% )        Sensex                  :  25696.44 (+2.23% )

                                                                      

CNX Midcap             :  12787.10 (+2.08% )       BSE Small Cap   :  10733.38 (+2.17% )

Bank Nifty Index      : 16530.30 (+3.59% )

Indian Share Market started with  gap down opening and traded in negative territory throughout the day . Strong selling was seen across the board since start of the trading session. Nifty touched Inttra  Day High at 7929 level and Low at 7746 level. Nifty and market seen  strong selling across the board and the selling was also extended to broader market and profit booking / short selling  was seen at higher level, . It was a day of  profit booking / short selling at any rise  at higher level. In technical words, it was a day of  making fresh short positions.

 Banking Shares were also came on selling radar at any rise throughout the trading session. Strong selling was seen at any rise throughout the day including shares of Private and Public Sector banks . Bank Nifty corrected by 3.59%  due to strong selling in bank's shares.

Now, Nifty have support at 7710 / 7650 level and may face resistance at 7940  / 7990 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels.