Ahead of RBI monetary policy outcome, the investors and traders were avoid to invest in riskier equity markets. The Indian bourses opened on a flat note at 12067.65 and breaks the yesterday’s low and trading below the psychological levels of 12000. The immediate support and resistance level are 11900 and 12160. Bajaj-auto, Tcs and Titan are top gainers while and Infratel, Yesbank and Tatasteel are the top losers. The market breadth is tilted in the favor of sellers as 1164 shares are declines and 555 shares are advanced, and 436 shares are unchanged. Among sectoral indices, except IT and reality, all the sectors are trading with negative biasness and the Psu bank index is declined by 2.45%. The index opened on a flat note at 12067.15 and made a low of 11964.55. The major support level is 2550. The index is trading below 50 days and 200 days simple moving average. The RSI is trading at 54.25 levels which indicate no sign of divergence. The Indian rupee is opened at 71.70 per dollar and currently trading higher at 71.59 per dollar.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trends.
- PNB: It is the top loser in the sector trading at 63 down by 4.18%. The delivery volume in the stock increased by 38.85% in current month. It is trading below 100 days and 200 days simple moving averages.
- UNION BANK: It is the second top loser in the sector trading at 59.75 down by 4.17%. It is trading above 20 days and 50 days moving average but trading below 100 and 200 days moving averages.
- CANARA BANK: The stock is trading at 217.80 down by 3.82%. The delivery volume in the stock increased by 80.65% in the month. It is trading above 20 days and 50 days moving averages and below 100 and 200 days moving averages.