Buy Tulip above 158 for Targets 160-163-169 keeping Stop loss @ 154 for intraday and 150 for Delivery. www.tipsindia.net
Buy EXIDEIND above 170 for Targts 173-176-179 keeping Stop loss @ 168 for Intraday and 165 for Delivery .www.tipsindia.net
Buy HINDALCO above 180 for targets 183-186-191 keeping Stop loss @ 177 for Intraday and 174 for Delivery.www.tipsindia.net
Nifty ends 19 pts down
It was a boring session for the Indian equity benchmarks on Friday. Indices traded with moderate loss amid a narrow range of 5,565-5,595, after a initial spike. It seemed that market could be waiting for some more earnings, RBI policy in last week of July, clarity on European debt crisis etc for getting direction on either side.
The 30-share BSE Sensex fell 56.28 points, to close at 18,561.92 and the 50-share NSE Nifty dropped 18.7 points, to settle at 5,581.10. Even the global markets were in a consolidation mode.
The sell-off in metal, FMCG, private financial and auto companies' shares put pressure on the market. Tata Motors was the biggest loser on Nifty, with falling over 3% - this could be because of profit booking or fall in its global sales. Company sold 89,846 units in June as against 90,702 units in a year ago period.
ONGC was another stock that weighed on the market, with falling 1.55%. There were reports yesterday after market hours that government may bring follow-on offer in September.
HDFC, Bharti Airtel, ICICI Bank, ITC, HUL and Infosys too were on sellers' radar.
However, buying in TCS has limited the downside. The stock gained 2% as company reported first quarter net profit of Rs 2,380 crore as against expectations of Rs 2240 crore.
Reliance Industries, Wipro, HDFC Bank, SBI, NTPC and L&T too were supported the market from falling further, with gaining 0.3-0.8%.
SKS Microfinance has seen on buyers' radar again after initial sell-off, with rising 10% today. The stock had lost 20% in previous two sessions while rallied more than 50% before started falling.
For the week, the Sensex fell 1.6% and the Nifty was down 1.4%.
Market breadth too turned in favour of declines in the late trade - about 560 shares advanced as against 734 shares declined on National Stock Exchange.
Volume was quite lower as compared to previous session - total traded turnover was more than Rs 1.14 lakh crore.
Jayasree Jayadev
(NCS)
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