Monday, 10 February 2014
MUMBAI: The S&P BSE
Sensex opened on a positive note led by gains in auto, capital goods and
technology sectors mirroring gains in Asian markets. However, the lack
of buying support from the foreign institutional investors is likely to
keep the upside cap for the benchmarks.
"The focus of markets will be on what today's Congressional testimony by Fed Chair Janet Yellen reveals. Afer Bernanke stepped down, this will be the first time we get to hear Yellen.
The outlook is a flat start. The market may remain in a range and look towards global cues for direction," said IIFL report.
At 09:20 a.m.; the 30-share index was at 20,390.25, up 55.98 points or 0.28 per cent. It touched a high of 20,443.35 and a low of 20,389.77 in trade today.
The Nifty was at 6,066.80, up 13.35 points or 0.22 per cent. It touched a high of 6,080.05 and a low of 6,064.70 in trade today.
"Monday's entire price action was within the range of Friday's price action. Due to this there is no major change in the daily as well as the hourly chart. Hence, we reiterate our view that 6,120 - 6,150 levels would act as strong supply zone for the index. On the downside, index may find support at 6,030 - 5,965 levels. Any closing below this level would open up possibilities of further downside move towards 5,900 - 5,850 levels," said Angel Broking note.
The S&P BSE Midcap Index was up 0.26 per cent and the S&P BSE Smallcap Index gained 0.41 per cent.
Among the sectoral indices, the S&P BSE Auto Index surged 1.30 per cent, the S&P BSE Capital Goods Index was 0.62 per cent higher and the S&P BSE IT Index gained 0.52 per cent.
"The focus of markets will be on what today's Congressional testimony by Fed Chair Janet Yellen reveals. Afer Bernanke stepped down, this will be the first time we get to hear Yellen.
The outlook is a flat start. The market may remain in a range and look towards global cues for direction," said IIFL report.
At 09:20 a.m.; the 30-share index was at 20,390.25, up 55.98 points or 0.28 per cent. It touched a high of 20,443.35 and a low of 20,389.77 in trade today.
The Nifty was at 6,066.80, up 13.35 points or 0.22 per cent. It touched a high of 6,080.05 and a low of 6,064.70 in trade today.
"Monday's entire price action was within the range of Friday's price action. Due to this there is no major change in the daily as well as the hourly chart. Hence, we reiterate our view that 6,120 - 6,150 levels would act as strong supply zone for the index. On the downside, index may find support at 6,030 - 5,965 levels. Any closing below this level would open up possibilities of further downside move towards 5,900 - 5,850 levels," said Angel Broking note.
The S&P BSE Midcap Index was up 0.26 per cent and the S&P BSE Smallcap Index gained 0.41 per cent.
Among the sectoral indices, the S&P BSE Auto Index surged 1.30 per cent, the S&P BSE Capital Goods Index was 0.62 per cent higher and the S&P BSE IT Index gained 0.52 per cent.
!!! HAPPY READING !!!
