BSE Sensex, Nifty futures feb 9 2012

BSE Sensex, Nifty futures feb 9 2012 : The BSE Sensex slipped as much as 0.3 per cent early on Thursday with Infosys, RIL and Hindalco leading the losses. Indian markets are becoming extremely volatile and are struggling to sustain levels above 5400 on the Nifty and 17800 for the Sensex since last three days.

This range bound volatility could be considered as a pause after a rally of more than 12%. If Sensex trades below 17575 and Nifty below 5320 we can expect markets to fall further down to 17,400 and 5,250, Last three days volatility indicated that if the Nifty manage to cross 5415 we may see a very sharp rally towards 5475 or even more and on flip side a fall below 5250 will start much awaited correction

At 9:20 a.m., the 30-share BSE index was trading 0.37% lower at 17,646.16 points led by losses in Infosys (down 0.8%), RIL (down 0.5%) and Hindalco (down 3.9%).

The broader 50-share NSE index was down 0.3 per cent to 5,348.25.

Tata Steel Ltd, the world's No.7 steelmaker, fell more than 1 percent ahead of its December quarter results, expected after market hours.

Technical Check:
"The trend deciding level for the day is 17,699 on the Sensex and 5,363 levels for the Nifty. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,818 - 17,928 / 5,402 - 5,435 levels," according to a report by Angel Broking.

"However, if Nifty trades below 17,699 / 5,363 levels for the first half-an-hour of trade then it may correct up to 17,588 - 17,469 / 5,330 - 5,292 levels," said the report. For the latest updates on the stock market, visit Stock Market Today

Infosys stock feb 9 2012, Nifty level feb 9 2012,Sensex feb 9 2012, Nifty trading tips feb 9 2012, Hindalco stock feb 9 2012, Tata Steel stock february 9 2012 For the latest updates PRESS CTR + D or visit Stock Market news Today

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