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Sensex For Tomorrow

The benchmark Sensex closed below the 18000 mark - important psychological level - for the first time since July 30, 2010. The index shed more than 200 points in the second half of trade, dragged by shares offinancial, technology, realty, auto, capital goods and power companies.

In the financial space, shares of India's largest banks - SBI and ICICI Bank plunged 2.7% each. HDFC Bank lost 2%; Axis Bank and PNB were down over 3%. HDFC and IDFC lost 1% each. TCS, Infosys and HCL Tech from technology pack tumbled 2.3-3.2%; Wipro lost 0.6%.

The 30-share BSE Sensex closed at 17,998.41, down 227.94 points or 1.25% and the 50-share NSE Nifty fell 69.20 points or 1.26% to settle at 5,408.70, after witnessing an intraday low of 5,391.95. For the week,Indices lost 2.2% each.

Total traded turnover was at Rs 1,07,985.78 crore. This included Rs 13,119.38 crore from NSE cash segment, Rs 89,587.43 crore from NSE F&O and the balance Rs 5,278.97 crore from BSE cash segment.

Nifty Future 

Nifty witnessed the correction from the upper levels and made the closing below the level of 5400. now the next support for nifty seems to be at the levels of 5350 to 5355. decisive closing below this support may slip it till the lower levels
of 5225 to 5230 in near run and there might be the short term trend reversal in the market. in the upside 5350 is the key resistance point, closing above this resistance may further head the nifty for the level of 5700.

Bank Nifty Future

Bank nifty witnessed the profit booking and in the end of this week made the closing in the red zone now the next vital support for bank nifty seems
at the level close to 10500. decisive closing below this support may slip it till the lower levels of 10100 to 10110 in near run. some of the banking stocks like uco bank, dena bank & sbi might witness some resistance, but overall in this
week we might see some more correction in banking stocks.

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