The market has opened in negative side after the 10 am though the market has recovered a bit, selling pressure continues to be seen. The sensex is up 30.88 points at 20312.79, and the nifty up 4.70 points at 6022.75. According to me 5950-6000 are strong support levels for the nifty and if this support levels are breached on the low side then the next support is at 5700 which would be the final target of decline.
The rupee continued its weakening trend against the dollar,the currency fell 19 paise at 63.90 per dollar.
The BSE healthcare index, It index, Auto index was trading among 0.5%-1%.sun pharma 2.4%, tata motors 1.79%, tata steel 1.2%, BHEL 0.65%, RIL 0.4% are the gainers today.
Hindalco 1.4%, tata power 1.07%, coal India 0.93%, sesa sterlite 1.2%, cipla 1.1% are the losers today.
Tata Motors Ltd is a sell call with a target 355 and a stop loss 370
DLF Ltd is a sell call with a target 133 and a stop loss 149
Reliance Infrastructure Ltd is a sell call with a target 400 and a stop loss 430