Indices struggle for breakout; IT drags
DSIJ Intelligence / 17 Aug 2016
The Indian markets struggled for breakout, with most of the stocks seeing some selling pressure on the higher side. IT index continues to close in negative scenario, down by 180 points. The Nifty ended lower by 18 points at 8624; and Sensex was 59 points down at 28005. The indices ended in the red by -0.21% each.
The Indian markets struggled for breakout, with most of the stocks seeing some selling pressure on the higher side. IT index continues to close in negative scenario, down by 180 points. The Nifty ended lower by 18 points at 8624; and Sensex was 59 points down at 28005. The indices ended in the red by -0.21% each.
The advance-decline ratio ended on the negative side. On the NSE, 24 shares closed in green, while 27 shares ended the day in the red.
Top 5 Nifty Gainers: Tata Steel was top gainer with 3.1% gains, followed by Coal India, Auro Pharma, Hero MotoCorp and Tata Power.
Top 5 Nifty Losers: Adaniport was top loser with loss of 2.8%, followed by TCS, Tech Mahindra, Power Grid and Infy.
In today’s trading session majority of the sectors closed in green and Metals sector was the top gainer by 204 points. Auto and Healthcare closed on positive note, up by 179 points and 82 points respectively, followed by Mid-caps and Small-caps, which also closed in green territory. However, IT, Oil & Gas and FMCG closed on a negative note.
The Asian markets were quoting in positive. Japan’s Nikkei was positive, closing up by 184 points. Hong Kong’s Hang-Seng was up by 186 points, and China’s Shanghai Composite closed on the green mark.
European markets were trading in negative scenario.
Derivative Analysis
Nifty future struggled to close above 8700 mark. Going ahead, if it closes above 8740, it will be considered as a fresh breakout for further move.
Top 5 Gainers On NSE
| Top Gainer in Nifty | |||||
| Symbol | LTP | Change Rs | % Change | Support | Resistance |
| Tata Steel | 391 | 12 | 3.1 | 380 | 410 |
| Coal India | 347 | 10 | 2.7 | 340 | 355 |
| Auro Pharma | 751 | 17 | 2.3 | 740 | 770 |
| Hero Motocorp | 3357 | 67 | 2.1 | 3250 | 3400 |
| Tata Power | 77.90 | 1.5 | 1.7 | 75 | 80 |
Top 5 Losers On NSE
| Top Losers in Nifty | |||||
|
| LTP | Change Rs | % Change | Support | Resistance |
| Adani ports | 265 | -8.5 | -2.8 | 255 | 280 |
| TCS | 2628 | -65 | -2.7 | 2600 | 2700 |
| Techm | 473 | -10 | -1.2 | 460 | 490 |
| Power Grid | 174.50 | -3.5 | -1.6 | 160 | 180 |
| INFY | 1034 | -26 | -1.4 | 1000 | 1060 |
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