Analysis Of Market Today

Hi Folks, Here's the Analysis of  Indian Share Market  Today 4th Sept.'15

Nifty                          :   7655.05 (-2.15% )        Sensex                  :  25201.90 (-2.18% )

                                                                      

CNX Midcap             :  12591.80 (-2.21% )       BSE Small Cap   :   10605.24 (-2.47% )

Bank Nifty Index      :  16129.10 (-2.57% )

Although Indian Share Market started with  gap down opening and Nifty touched higher at 7804 level and traded in negative range throughout the day. Strong selling was seen across the board since start of the trading session. Nifty touched Inttra  Day High at 7804 level and Low at 7626 level. Nifty and market seen  strong selling across the board and the selling was also extended to broader market . Selling pressure was observed at any rise . BSE Sensex and NSE Nifty touched fresh 13 months low after November'2011 as Market had set eyes on up coming US job data and Market still expecting some more negative news flow from Chinese Economy.

 Banking Shares were also came on sellers 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 2.57%  due to selective selling in bank's shares. Bank Nifty touched Inttra Day low at 15953 which is its 11 months low.

Now, Nifty have support at 7600 / 7530 level and may face resistance at 7750  / 7810 level. Market participants should watch these levels carefully as the Nifty will give strong move on either side after breaking / breaching these levels. Its a market of sell at rise until and unless Nifty able to cross and sustain above 8120 level at least for two trading sessions.