The Sensex opened at 23,223, touched an intra-day
high of 23,623 and low of 23,198. It finally ended with a gain of 568 points at
23,554.The Nifty opened at 7,057
hitting a high of 7,183 and low of 7,057, before ending with a gain of 182
points at 7,163.95. There is a clear short term bottom in place in the index. It
has risen from an important Gain angle, and the bottom has happened with a
long-tailed hammer line in candlestick parlance. However, there are no clear
indications as yet to suggest that it is going to be final bottom for this bear
market. In any case, we are in for, at least, bit of a bounce this week. The
most critical zone for the day would be between 7023 and 7057; its real test
would come when it tries to clear the zone between 7135 – 7210—once this zone
is decisively taken out, the market would see the next round of short covering
rally.
TOP GAINERS:
Bank of Baroda, Vedanta, Tata Steel, Hindalco,
L&T, SBI, Adani Ports and Coal India
TOP LOSERS:
Bharti Airtel, HUL, Idea Cellular and HDFC
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