Feb 21, 2013, 09.28 AM | Source: Moneycontrol.com
ICICIdirrect.com has come out with its report on Indian markets. According to the research firm, The Sensex has supports at 19530-19440 and resistances at 19740-19850.
, ICICIdirect.com |
Indian markets are expected to open negative on the back of negative global cues. The markets opened positive on Wednesday morning but witnessed profit booking as the trading session progressed to eventually close in the green. The initial sentiment was positive tracking firm global cues. The markets, however pared early gains on the back of the cautious stance by traders ahead of the Budget session of Parliament due to begin tomorrow.
The Railway Budget is due to be presented next week on Tuesday, February 26, followed by the Economic Survey of India on Wednesday, February 27 and the Union Budget on Thursday, February 28, 2013. Selling pressure was witnessed in consumer durables, capital goods, FMCG and metals sector stocks while modest buying interest was witnessed in oil & gas, real estate and IT sector stocks. The Sensex closed at 19642.8, up marginally by 7 points while the Nifty ended at 5943.1, up marginally by 3.4 points. The Sensex has supports at 19530 and 19440 and resistances at 19740 and 19850. The Nifty spot has supports at 5905 and 5875 and resistances at 5970 and 6000.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
ICICI direct is bullish on Sadbhav Engineering has
ICICI Direct recommended hold rating on Graphite I
ICICI Direct is bullish on Balkrishna Industries h
ICICI Direct expects US$ to meet supply pressu
According to ICICIdirect, Nifty is likely to open