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The
markets closed with significant declines today with metal, infra and capital
goods being the worst performers. Europe, too, didn't come to rescue the
markets and pulled the indices down. The Sensex closed at 16877, down 281
points from its previous close, and the Nifty shut shop at 5118, down 87
points. The CNX Midcap index was down 1.7% while the BSE Smallcap index lost 1.1% in today's trade. The market
breadth was negative with advances at 331 against declines of 1106 on the NSE.
The top Nifty gainers wereDr Reddy's Lab, Cipla and ONGC while the
biggest losers included Maruti, JP Associates, Sesa Goa andSterlite Industries.
For
tomorrow 24th july, Bench mark index will open with negative notes. High
volatility will expected in during the day as future contract will expired on Thursday.
Now 5130-5155 is strong resistance for Nifty future and support at 5035-4980.
5115-5135 act as no trading zone for tomorrow as advice to side way from market
if market will trade in range.
Mintmoney
advise to go short only below 5115 with stop loss of 20-25 point for target of 5065-5020-4980,
Or can buy once only above 5160 with stop loss of 5140 for target of 5195-5230-5280.Our outlook is negative for short term and suggested to go short on higher level with proper stop loss
Share in bullish mode: - ROLTA, GESHIP
Share in bearish mode: - BHARTIAIRTEL, PTC, TTKPRESTIG and WIPRO
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