5290 broken now next 5200, Yesterday we told in our post that Bullish traders are suggested to be cautious, and we seen a positive opening and despite of positive opening Indian market face selling pressure at higher levels mainly in Banking and Oil sector as we suggest that Banking sector may face selling pressure. And Finally Indian market closed in Negative note.
SENSEX closed at 17639, down by 182 points and Nifty at 5273, down by 49 points from the previous close.
US market closed positive, Dow jones closed at 11144.57, up by 21.46 points, Nasdaq closed up by 10.83 at 2515.69, S&P 500 closed at 1211.67 up by 1.02 points from its previous close.
Asian market in Negative zone, Indian market may open lower on the back of Asian market weakness.
IT and Reality sector shown strength in yesterday market.
Psychological level of Nifty 5290 has broken so now we can see Nifty can touch 5200 in near term. 5335 level now act as a resistance and 5245 a small support if it break then we will see 5200-5190.
We may see some buying in Reality sector and Banking still looking weak.
Stock for Watch:
Divis Lab: Buy with sl below 690 for tgt 775-800 in near term.
In Bearish trend:Gail, Hero Honda, Lt, ICICI Bank Looking weak on chart.
In Positive trend:Trader can watch Unitech, DLF, TAJGVK and Godrej consumer product.
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