Equity benchmarks soon gave up their gains from the opening tick, with the Sensex looking to snap 30,600. The Sensex was up 139.54 points at 30604.46, while the Nifty was up 31.50 points at 9459.40. The market breadth was narrow as 1,131 shares advanced against a decline of 840 shares, while 109 shares were unchanged. ITC, Adani Ports and Kotak Mahindra Bank were the top gainers, while State Bank of India, Sun Pharma and Tata Power lost the most. Midcaps erased all their gains from the opening session, following heavy selling pressure. A fall was also seen in other sectors such as pharma and PSU banks.
TREND: BULLISH TO CONSOLIDATE
RESISTANCE: 9500, 9550
SUPPORT: 9390, 9340
STRATEGY: BUY ON DIPS
BUY CAPLIPOINT ABOVE 600 TARGETS 606, 612, 618 STOPLOSS 588
BUY MIRZAINT ABOVE 153.80 TARGETS 155.30, 156.80, 158.30 STOPLOSS 150.80
SELL VSSL BELOW 104.50 TARGETS 103.50, 102.50, 101.50S STOPLOSS 106.50