Indian markets opened on a flat-to-positive note on Friday in line with other Asian markets. Indices are likely to move in a narrow range due to lack of buyers at higher levels. “Our markets saw consolidation for the second day running. FIIs turned sellers in F & O by selling Index futures worth 944 cr and stock futures worth Rs. 657 cr. While finance secretary hinted at stimulus withdrawal on Wednesday, Commerce Minister yesterday indicated that he would push for more stimulus for the export sector in the coming budget. BSE Oil & Gas index saw a breakout on chart, supported by strength in Reliance, GAIL and Cairn and looks good for further gains. Market has consolidated for two days, which augurs well technically. 
5310 and 5238 are immediate resistance and support levels,” said Anagram Stock Broking note. At 9:04 am, Bombay Stock Exchange’s Sensex was 17603.87, down 11.85 points and National Stock Exchange’s Nifty was at 5264.25, up 1.15 points. Buying activity was seen in the broader markets. BSE Midcap Index was up 0.58 per cent and BSE Smallcap Index moved 0.63 per cent higher. “On the daily charts, we are witnessing a bearish Evening star candlestick pattern .The highest high of the three candlestick i.e 17790 / 5310 levels would now act as the near term resistance for the markets. On the downside if indices trade convincingly below 17567 / 5245 levels then it is likely to test 17334 – 17188 / 5177 – 5133 levels, where the markets are expected to take support, as the intermediate bullish trend remains intact,” the Angel Broking report said. Amongst the sectoral indices, BSE Realty Index was up 0.98 per cent, BSE Healthcare Index moved 0.81 per cent higher and BSE Capital Goods Index advanced 0.78 per cent. BSE IT Index was down 0.68 per cent. Sun Pharma (1.22%), NTPC (1.18%), DLF (1.14%), Tata Motors (1.11%) and L&T (0.90%) were amongst the top Sensex gainers. Infosys Technologies (-0.84%), Hindalco Industries (-0.57%), Wipro (-0.42%), Tata Steel (-0.40%) and Sterlite Industries (-0.32%) resisted the upmove. Market breadth was positive on the BSE with 1244 gainers and 311 losers. US stocks took a beating Thursday as the US dollar strengthened after the government reported a slight increase in initial jobless claims. According to the Labor Department, initial jobless claims rose from last week, but less than forecast. The Dow Jones Industrial Average was down 33.86 points, or 0.32 per cent, at 10,539.82. The Standard & Poor's 500 Index lost 3.15 points, or 0.28 per cent, at 1,133.99. The Nasdaq Composite Index shed 12.03 points, or 0.52 per cent, at 2,289.06. Asian counters, on the other hand, rose following a boost in US retail sales numbers which indicated strengthening of the economy. The Nikkei moved up 1.06 per cent, Topix climbed 0.77 per cent, Straits Times added 0.31 per cent.
5310 and 5238 are immediate resistance and support levels,” said Anagram Stock Broking note. At 9:04 am, Bombay Stock Exchange’s Sensex was 17603.87, down 11.85 points and National Stock Exchange’s Nifty was at 5264.25, up 1.15 points. Buying activity was seen in the broader markets. BSE Midcap Index was up 0.58 per cent and BSE Smallcap Index moved 0.63 per cent higher. “On the daily charts, we are witnessing a bearish Evening star candlestick pattern .The highest high of the three candlestick i.e 17790 / 5310 levels would now act as the near term resistance for the markets. On the downside if indices trade convincingly below 17567 / 5245 levels then it is likely to test 17334 – 17188 / 5177 – 5133 levels, where the markets are expected to take support, as the intermediate bullish trend remains intact,” the Angel Broking report said. Amongst the sectoral indices, BSE Realty Index was up 0.98 per cent, BSE Healthcare Index moved 0.81 per cent higher and BSE Capital Goods Index advanced 0.78 per cent. BSE IT Index was down 0.68 per cent. Sun Pharma (1.22%), NTPC (1.18%), DLF (1.14%), Tata Motors (1.11%) and L&T (0.90%) were amongst the top Sensex gainers. Infosys Technologies (-0.84%), Hindalco Industries (-0.57%), Wipro (-0.42%), Tata Steel (-0.40%) and Sterlite Industries (-0.32%) resisted the upmove. Market breadth was positive on the BSE with 1244 gainers and 311 losers. US stocks took a beating Thursday as the US dollar strengthened after the government reported a slight increase in initial jobless claims. According to the Labor Department, initial jobless claims rose from last week, but less than forecast. The Dow Jones Industrial Average was down 33.86 points, or 0.32 per cent, at 10,539.82. The Standard & Poor's 500 Index lost 3.15 points, or 0.28 per cent, at 1,133.99. The Nasdaq Composite Index shed 12.03 points, or 0.52 per cent, at 2,289.06. Asian counters, on the other hand, rose following a boost in US retail sales numbers which indicated strengthening of the economy. The Nikkei moved up 1.06 per cent, Topix climbed 0.77 per cent, Straits Times added 0.31 per cent.Source: http://economictimes.indiatimes.com/markets/stocks/market-news/Sensex-opens-in-green-Sun-Pharma-NTPC-DLF-up/articleshow/5422588.cms
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