It was a quiet start for the Indian markets after massive drubbing by bears this week. The banks resume its downward march led by SBI. ONGC however bounced back and the stock was trading in green.
At 09.21 hrs IST, the Sensex was up 24.77 points or 0.14% at 18162.12, and the Nifty was up 2.15 points or 0.04% at 5441.10. About 580 shares advanced, 340 shares declined, and 2721 shares remain unchanged.
Selling was seen in rate sensitives and oil & gas stocks. Buying was seen in FMCG and capital goods stocks. Nifty gainers: BHEL, HDFC, Larsen, Hindalco and ONGC were up 0.8-1.5%.
Nifty losers: SBI, SAIL, Tata Motors, Maruti Suzuki and BPCL were down 1-1.5%.
Technical View: On the daily chart, the Nifty has been forming Head and shoulder top reversal pattern on the daily chart since first week of March 2011. The middle peak (head) is pegged at 5944. The two outside peaks (left and right shoulder) is pegged at 5608/5605 levels.
Midcap gainers: Bajaj Finserv, Unichem Labs, BOC India, Motherson Sumi and HT Media were up 2-7%.
At 09.21 hrs IST, the Sensex was up 24.77 points or 0.14% at 18162.12, and the Nifty was up 2.15 points or 0.04% at 5441.10. About 580 shares advanced, 340 shares declined, and 2721 shares remain unchanged.
Selling was seen in rate sensitives and oil & gas stocks. Buying was seen in FMCG and capital goods stocks. Nifty gainers: BHEL, HDFC, Larsen, Hindalco and ONGC were up 0.8-1.5%.
Nifty losers: SBI, SAIL, Tata Motors, Maruti Suzuki and BPCL were down 1-1.5%.
Technical View: On the daily chart, the Nifty has been forming Head and shoulder top reversal pattern on the daily chart since first week of March 2011. The middle peak (head) is pegged at 5944. The two outside peaks (left and right shoulder) is pegged at 5608/5605 levels.
Midcap gainers: Bajaj Finserv, Unichem Labs, BOC India, Motherson Sumi and HT Media were up 2-7%.
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