Indian benchmark indices trade flat amid sideways momentum. BSE Midcap and Smallcap indices are trading in the green. Power Finance, CDSL, HDFC Bank, Reliance Industries and MTAR Technologies are among the most active shares on the NSE.
Among sectors, realty and auto indices up 1 percent each, while selling is seen in the FMCG, IT, oil & gas names.
At 11 AM,the Sensex was down 44.47 points or 0.07 percent at 64,931.14, and the Nifty was down 14.20 points or 0.07 percent at 19,429.30. About 1518 shares advanced, 1502 shares declined, and 98 shares unchanged.
Options data suggests a tussle between put and call options writers at 19400 and 19450 levels.
As per SBI Securities, "Nifty trading in a narrow range of 60 points.
Till the 20 EMA support zone of 19350-19370 holds steady, the index can challenge its resistance zone of 19525-19570 which is the 50 percent retracement of the entire downmove from 20222 to 18837. If Nifty crosses & sustains above 19600, fresh rally upto 19730-19780 cannot be ruled out.
Below 19360, the index can witness profit booking up to 19260 level, followed by 19170 level."
Among individual stocks, long build up is witnessed in PFC, REC Ltd and Apollo Tyres. While short build up is seen in Tata power and Deepak Nitrite.
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