The 50-stocks bundle opened on a gap up note at 12190.15 and erased all the morning gains. The index is trading sideways between the levels of 12110 to 12185. If Nifty breaks the support level of 12095 then some weakness will be seen in the market. Yesbank, Bhartiartl and Bpcl are top gainers while Infratel, Gail and Eichermot are the top losers. The market breadth is tilted in the favor of sellers as 989 shares are declined and 726 shares are advanced and 435 shares are unchanged. Out of 11 sector, only 2 sectors are trading with positive sentiments while 9 sectors are trading in red with psu bank sector declined by 1.20%. The index is opened on a flat note at 2261.75 and traded in negative. The stock made a low of 2222.65. On hourly chart, it is trading below 50 days and 200 days moving average. The RSI is trading at 30.77 levels on hourly chart which indicate no sign of divergence. The Indian rupee is opened at 71.33 per dollar and currently it is trading lower on 71.35 per dollar.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trends.
J&K BANK: It is the top loser in the sector trading at 18.30 declined by 4.19%. The delivery volume in the stock increased by 106.85% in the month. It is trading below 50 days, 100 days and 200 days simple moving averages.
UCOBANK: It is the second loser in the sector trading at 14.20 dropped by 2.74%. It is trading below 50 days, 100 days and 200 days simple moving averages. The delivery volume in the stock declined by 45.31% in the month.
SBIN: The stock is trading at 322.20 down by 1.60%. It is trading above 50 days, 100 days and 200 days moving averages. The delivery volume in the stock surged by 29.46% in the month.