Analysis Of Market Today

Hi Folks, Here's the Analysis of  Indian Share Market  Today 3rd Sept.'15

Nifty                          :   7823.00 (+1.37% )        Sensex                  :  25764.78 (+1.22% )

                                                                      

CNX Midcap             :  12876.80 (+1.11% )       BSE Small Cap   :   10873.55 (+1.15% )

Bank Nifty Index      :  16555.40 (+1.86% )

Although Indian Share Market started with  gap up opening and Nifty touched higher at 7845 level and traded in positive range throughout the day. Strong buying was seen across the board since start of the trading session. Nifty touched Inttra  Day High at 7845 level and Low at 7754 level. Nifty and market seen  strong buying across the board and the buying was also extended to broader market and bottom fishing / short covering  was seen at every lower level, . It was a day of smart buying / short covering at any dips / at lower level. In technical words, it was a day of short covering / value buying.

 Banking Shares were also came on buyers radar at any dips throughout the trading session. Selective buying was seen at any dip throughout the day including shares of Private and Public Sector banks . Bank Nifty moved up by 1.86%  due to selective buying in bank's shares.

Now, Nifty have support at 7750 / 7720 level and may face resistance at 7880  / 7940 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels.