Weak trend seen in Nifty, may fall in short run

By Bharti Navlani
MUMBAI (Makemystocks): Indian Stock markets doesn’t seems good for bulls as market sentiments still looks bearish.

The 50-share S&P CNX Nifty gave gap up open at 5475 but makets slide from their and Nifty made low of 5366 down by 109 pints from its high .Nifty settled in negative territory down by 73 points at 5374. On weekly basis also Nifty closed Nifty was down by 71 points this gives indication that Monday market is expected to give good movement.

Today Nifty has given breakout and move below today’s low of 5366 can make Nifty test 5200 and next level is 5050.

On the other hand even today European markets are trading Strong; the FTSE index is up by 28 points, CAC index is up by 33 points, and DAX index is up by 35 points.

All NSE indices closed in negative zone. Realty, Banking and IT were top loosing sectors.The market breadth, indicating the health of the market was negative. On NSE, 433 shares advanced while 977 shares declined. Total of 39 shares remained unchanged.

Out of 50-share S&P CNX Nifty pack 3 scrips advanced while 46 scrips declined. Ambuja Cement was up by 0.53%, Tata Steel up by 0.48% and ITC up by 0.39% were gainers from the Nifty pack.

Relinfra was down by 4.32%, M&M down by 4.01% and Reliance down by 3.92% were top losers from the Nifty pack.

Outside the frontline indices, the big gainers in the broader market were On Mobile, Tata Comm and Auro Pharma. On the other hand, losers included Concor, MRPL and Rel Media.

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