Nifty holds 8250 amid pressure; midcap
The market continued to trade lower on mild profit booking on the very first day of the year 2015. The Sensex fell 47.59 points to 27451.83 and the Nifty declined 14.60 points to 8268.10 while the broader markets outperformed frontline indices.
The BSE Midcap and Smallcap indices gained 0.5 percent each. About two shares advanced for every share declining on the Bombay Stock Exchange.
The Nifty is expected to oscillate between 7,600 on the downside and 9,500 on the upside, according to Amit Gupta of ICICI Direct.
Asian Market Outlook
On the last trading day of 2014, Asian shares turned mixed early Wednesday as a set of key Chinese manufacturing data curbed risk sentiment.
US stocks fell in low volume trade on Tuesday, on the back of a sharp decline in the utilities sector which led the S&P 500 down 0.5 percent. The blue-chip Dow had its biggest drop in two weeks, settling 0.3 percent lower, while the Nasdaq Composite lost 0.6 percent.
China’s Shanghai Composite index fluctuated between gains and losses after the release of key manufacturing data. At 1000 SIN/HK, the benchmark index traded 0.1 percent lower while in Hong Kong, the Hang Seng index traded flat.
Today Nifty Market Trends:
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 8200
SUPP 2: 8070
RES 1: 8330
RES 2: 8480
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