Hi Folks, Here's the Analysis of Indian Share Market this Week for week ending 23rd Oct.'15
Nifty : 8295.45 (+0.70% ) Sensex : 27470.81 (+1.01% )
CNX Midcap : 13428.20 (+0.71% ) BSE Small Cap : 11519.30 (+0.47% )
Bank Nifty Index : 17934.00 (+0.12% ) Dollar V/s Rupees : 64.83 (-0.03% )
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(1) H C C Ltd : 20.17% (2) I F C I Ltd : 20.01% (3) NIIT Tech. : 16.54%
(4) Escorts Ltd : 14.70% (5) Mphasis Ltd : 12.07% (6) ABB India : 10.74%
(7) Delta Corp Ltd : 10.59% (8) Kailash Auto Finance : 11.22%
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(1) DCB Bank Ltd : 32.37% (2) Sunrise Asian : 6.29% (3) Federal Bank : 11.20%
(4) Cyient Ltd : 7.66% (5) Cairn India : 6.69% (6) D L F Ltd : 5.88%
(7) Unioun Bank Of India : 5.69% (8) Gati India Ltd : 5.46%
Analysis Of Nifty Movements
Indian
share market and Nifty started this week's trading with positive note and market further moved in positive territory after some consolidation . Value buying and Short covering was seen from lower level around 8239 / 8217 and selective strong buying interest was also seen after Nifty touched lower levels ie, below 8217 level . Nifty made weekly high at 8328
level as buying interest was seen by market
participants after sharp dips in last few weeks, particularly big investors like DII and FII were also buyer in cash segment during this week.
Indian Share market is still trading in strong bullish trend as long
term bullish trend is still intact. Market participants like FII, who
were net seller in last few days used the dips to cover their already sold positions to book profit on their short sold positions in this week.
Whereas DII are using every sharp dips for buy although DII book
some profit in selected shares during this week. Bullish trend of Nifty and market is very
strongly intact.
CNX Mid caps Index moved up by 0.71% and BSE Small Cap Index moved by 0.47%, Nifty was also raised by 0.70% and Sensex recovered by 1.01% and Bank Nifty was moved up marginally by 0.12% during the week. Indian Rupee seen small correction against US $ by 0.03%
Now, Nifty have support at 8250 / 8220 level and resistance at 8340 / 8370 level. Market participants should watch these level closely as Nifty will give a sharper move on either side after breaching the same. Its a market of selling at sharp rise and buying at any sharp dips to remain strong with safe profit on the table, So market participants should sell at any sharp rise and should cover the sold positions at any sharp dips to make nice profit in short term.
Nifty had entered in BULL Orbit and it will be confirmed if the Nifty will able to sustain above 8280 level for more two trading sessions as closing basis. It will indicate the further strength in the Indian Share Market. Market traders should buy at any further sharp dips as its a very right time to make your Portfolio for medium to long term.
