BL Research Bureau
The Nifty 50 and the Sensex opened today’s session on a flat note and then moved up a little. They are now up by about 0.15 per cent for the day so far as the Nifty is at 15,840 and the Sensex is at 52,955. Major Asian equity indices are not unidirectional as the ASX 200 closed with a gain of 0.9 per cent whereas the Nikkei 225 lost nearly 1 per cent.
While the Nifty has gained only marginally, the market breadth is indicating good bullish bias as the advance-decline ratio stands at 31-19. Also, the volatility remains almost at the same level as of yesterday as indicated by India VIX – the volatility index, which is currently at 12.32. The mid- and small cap indices have gained between 0.1 and 0.4 per cent. Among the sectoral indices, barring the Nifty Auto and Media index, which are down by 0.2 per cent each, all others are in the green. The Nifty Realty is the top gainer, up by nearly 2 per cent followed by the Nifty FMCG index, up by 0.4 per cent so far.
Strategy: Go long above 15,875 with stop-loss at 15,830
Supports: 15,800 and 15,770
Resistances: 15,900 and 15,950