Friday, August 10, 2012

Market Outlook For Today: 10 August 2012

Due to weak cues from international markets, today's session began with the fall of 0.25 per cent. 
Technical, IT, FMCG stocks are 0.5 to 0.3 per cent stronger.Health care, realty, bank stocks is idling. Oil & Gas, PSU, metal, power, capital goods stocks are weak 0.2-0.4 per cent. Consumer durables, auto shares have fallen 0.6 per cent.

Bharti Airtel continued to fall after 2 days of profit booking and bounced back to rose 2 per cent. 
First quarter earnings rose by 0.5 per cent of the SBI and Sun Pharma. Excellent results of tech Mahindra have escalated the stock nearly 3% today.
Tata Motors due to weaker than expected results continue to fall and the stock has lost 2.5 per cent.The results were poor and 2.5 per cent of Ranbaxy shares are rolled. Because of poor results, GMR Infra shares have crashed 2 per cent.

For today, the market is likley to remain under selling pressure. A sideways trend with negative bias is likely to dominate the market trend. Technically, Nifty needs to remain above 5300 to avoid major downfall.

For day Trading, Buy Sun pharma above 682 for the targets of 687.50-682.00.


Posted By Commodity MCX Tips