Nifty closes down 37.35 points on Monday - Indsec Securities & Finance

The Nifty closed the day negative down 37.35 (0.64%) points at 5835.25 from 5872.60 Friday, on back of low volume, as the market is awaiting announcement of credit policy. Major loser in Nifty were Coal India (5.53%), IDFC (-3.46%) and Tata Power (-3.34%) whereas major gainers were Cipla (+1.98%), Siemens (+1.59%) and Cairn India (+1.40%).

The volume in the cash market for both NSE and BSE put together was down 30.00% to Rs. 102.65 bn from Rs. 145.30 bn Friday. The advance/decline ratio stood at 0.59:1 from 0.52:1 for stocks traded on NSE.

Nifty on the hourly chart oscillated between 61.8% and 78.6% retracement of swing high/low of 5946/5791. Whereas on the daily chart the market has taken support at 38.2% retracement of swing high/low 6111/5663 and closed just above it.

Source : Equity Bulls

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