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Market Report

Wednesday, 25-Mar-2015

NSE

  • The 30-share Sensex closed at 28111.83, down 49.89 points or -0.18 per cent. It touched a high of 28,249.60 and a low of 28,031.42 in trade today. The Nifty ended at 8530.80 down 12.15 points or -0.14 per cent. It touched a high of 8573.75 and a low of 8516.55 in trade today.

  • The Nifty extended losses for sixth straight session amid volatile trades, as traders turned cautious and booked profits ahead of the March F&O expiry tomorrow. According to analysts, the market weakness is more to do with financial year closing. The momentum is likely to pick-up as the FY16 begins.

  • Most analysts expect no fireworks, at least on Dalal Street, over the F&O expiry due tomorrow. The real action on Thursday will be on the cricket pitch and not in the futures and options (F&O) segment, say experts. India's semi-final game will dominate the proceedings even as traders wait to roll over their positions in the F&O segment from March 2015 series to April.

  • We are just left with two working days within this week, and next week too is a truncated one, so volumes are expected to remain low and range bound move on the benchmark indices cannot be ruled out. Analyst see more stock and sector specific moves, rather than big move on benchmark indices. So for traders it is going to be very frustrating but for investors, from a long term point of view, there are sectors which look exciting in terms of earnings drop back, say experts.

  • Nifty to see temporary support at 8,500; Friday's session crucial, says Ashwani Gujral. We have often seen that if some trend has to give way, it generally does that on the first day of a new F&O series. So Friday would be a more important thing for me to look at. Tomorrow will be a choppy day. Chances are that we will hang around the current levels tomorrow. But overall, there is more downside to come because I am not seeing any major buying coming in. The levels around 8,500 will provide some support, but how long will that support sustain is the bigger issue. Once 8,500 goes, then you should see a sharp 200-300 point plunge, he warns.

  • Nifty may drop to 8,300 within a week, says Sandeep Wagle. For Thursday, we expect Nifty to trade between 8,500 and 8,600 levels. A bounce back of 40-50 points cannot be ruled out, but one should avoid going long. If you taking intraday calls, then that is a different issue. I would be comfortable in taking 'SELL' positions at 8,550-8,600 on Nifty, with a very tight stop loss of 8,650. On the downside, I would play for a 8,300-8,280 on Nifty for a time horizon of one week, he says.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)