GAIL and Petronet LNG gained more than 8 percent. JSPL surged 8 percent on getting clean chit from Competition Commission of India (CCI) in coal auction cartelisation case.
The market continued to see some profit booking amid consolidation today after more than a percent rally in previous session. Banking & financials also witnessed selling pressure but auto and select technology stocks supported market. The Sensex fell 60.99 points to 25780.93 and the Nifty declined 22.15 points to 7820.60. The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising more than 0.4 percent. The market breadth was positive as about 1011 shares advanced against 741 declining shares on the Bombay Stock Exchange. GAIL and Petronet LNG gained more than 8 percent. JSPL surged 8 percent on getting clean chit from Competition Commission of India (CCI) in coal auction cartelisation case.
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On Thursday Nifty closed 110 points up at 7842 giving falling wedge pattern upward breakout at 7815 forming bullish candle supported by positive indicators signaling up move to continue. Now on upper side Nifty has immediate major resistance at 7860. If it crosses and sustain above it then it may go up to 7966 – 8014 levels. On lower side 7785 will act as immediate major support level. if it breaks it then 7735 – 7635 are the next.
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