Market opened and continued to trade flat on Thursday as investor absorbs the interest rate unchanged by Federal Reserve. Sensex closes 27.05 points down at 33573.22 and Nifty future closes down 24.85 points at 10452.45. Pharma sector today added the most by 3.02% helped by divi’s lab gaining 17% due to lifting of import ban by USFDA and on the down side, ONGC to invest Rs. 92000 cr to double gas output in 4 years. PSU banks drag the most by 1.52%.
Idea, Auro Pharma and Lupin are the top gainers today and Tech Mahindra, Hero Moto and Bharti Infratel and are on the losing side.
As we see trader’s interest still remains outside index and investor should continue to focus on individual stocks to get better trade result as corporate earnings are going on. Investors are advised to stay light as Nifty started to be oversold investors should not take any undue risk. By focus on individual stock it gives them far better opportunities to trade and specific movements should be used to make profits.
Resistance & Support -
Support of Nifty future is placed at 10430 and 10360.
Resistance of Nifty future is placed at 10490 and 10620.
Support of Bank Nifty future is placed at 25400 and 25340.
Resistance of Bank Nifty future is placed at 25640 and 25950.
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