Bulls finally manage to hold ground; Capital Goods give a breather

The Indian markets continued with their profit booking scenario, which is being seen from the last few trading sessions. The indices like Capital Goods and Cunsumer Durabales pulled the indices on the higher side, followed by Auto and Oil & Gas. However the Nifty could not manage to close above 8000 mark, however it has ended on a positive note up 6 points at 7985; and Sensex was up by 61 points at 26040. Both the indices ended higher by around 0.08-0.61 per cent each.

The market breadth remained balance till closing hour, with 25 advances and 26 declines on the NSE.

Majority of sectoral indices closed on a negative note. However Capital Goods and Consumer Durables outperformed for the day, up by 116 points and 84 points respectively. While Auto and Oil & Gas also provided some support to the indices. Bankex, Healthcare and IT remained under pressure and have continued with their profit booking trade. Mid-caps and Small-caps also closed on a negative note.

In the Asian markets, the Nikkei closed down by 16 points. While the Hang Seng index ended down by 61 points. The KOSPI and Taiwan ended on a mixed note.

European markets were also trading in a mixed scenario.

Derivative Analysis

Nifty future closed below 8000 mark. Going ahead 8060/8110 will be major resistance levels.