Support for Nifty at 5811: HDFC Securities
According to HDFC Securities, immediate resistance for Nifty is at 5950, while strong support is at 5811.
September 26, 2013 / 09:53 IST
HDFC Securities' Fundamental Report:
Indian markets bounced back in the afternoon session after breaking the Nifty intra-day supports of 5850. While the BSE Sensex closed 63.97 points or 0.32 percent lower at 19,856.24, the Nifty lost 18.6 points or 0.32 percent to close at 5,873.85. Broad market indices ended flat. While the BSE Mid Cap index gained 0.12 percent, the BSE Small Cap index lost 0.07 percent. Market breadth was negative as the A/D ratio was 0.84:1 on the BSE. NSE cash turnover was Rs 11,108 crore vs Rs 11,148 crore in the previous session.The sectoral indices ended with a mixed bag. While the top gainers were the BSE Power, capital goods, healthcare and metal indices, the top losers were the BSE Oil and Gas, FMCG, Bankex and realty indices. The top gainers from the BSE 30 were Bharat Heavy Electricals (BHEL), Hindalco Industries, Sesa Goa and NTPC. The top losers were Reliance Industries, HDFC Bank, Mahindra and Mahindra and Hindustan Unilever (HUL).As per the provisional figures on Wednesday, FIIs were net buyers of Rs 382 crore in the cash market, while they were net sellers of Rs 250 crore in the F&O markets. DIIs were net sellers of Rs 473 crore in the cash market.Indian market could open lower on weak global cues and trade in a range with negative bias throughout the session. Immediate resistance for Nifty is at 5950, while strong support is at 5811. Among the sectoral indices, Banks, auto & realty could underperform, while IT looks good.Disclaimer: The views and investment tips expressed by investment experts 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. 
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