The opening session of the last week of financial year 2012-13 started quiet inline with mixed global
market sentiment. Then indices and front-line stock showed some signs of bounce back and recover during the week but strong selling pressure resulted nifty couldn't exceed the level of 5700 again. However indices successfully managed to hold their key support zone of 200 day simple moving average and Downward slopping trend line for the week and rest of the month as well.
As expected on the day of derivatives expiry extreme high volatility was seen but Indian indices managed to end the day and week with smart gains that's because of covered of short position in derivatives segment. After the flat opening one time market reached the new low of last four month but in the second session with short covering and also positive opening of the European markets boost the Indian stock market to close on higher level of the last trading session.

The 30-stock indices BSE Sensex end the day's at 18836 with the gain of 131 points made a high of 18883 and low at 18568 level.
On the other end the indices of the nation NSE Nifty-50 close the last day of financial year with gain of 41 points made a high of 5692.95 and low at 5604.85 and close at 5682.55 during intraday trading session also formed strong bullish bar reversal pattern on the daily chart.

technical chart of nifty-50Market breadth remained positive and in favor of the bulls, Of the 2898 stocks traded on the Bombay stock exchange 1625 stock close with green, 1149 close with negative return and remains 124 stock unchanged. On NSE 869 stock close with positive returns and 528 stock with negative return.
In the Nifty 50 stock basket stock like ACC, Asian Paint, Axis Bank, Bhel, Drreddy, PNB, Relinfra, SAIL, Siemens, Tata steel formed bullish bar reversal pattern that means making stock making a low of lower than previous day low price and close above the last day closing price.

Market Snapshot :

  • Nifty 200 day simple moving average (SMA) is placed at 5627.
  • Sensex 200 day SMA is placed at 18556.
  • Momentum oscillators RSI and Stochastic giving positive crossover.
  • Nifty Put Call Ratio Open Interest has increased from 0.82 to 0.98 levels.
  • Most active Nifty Call Option 5700 and 5800 strike price.
  • Most active Put Option 5700 and 5600 strike.
  • FII were net buyers in equity cash segment they buy in equity cash worth 574/- cr. Rs.
  • DII's sell continues in equity, they sold 346.12 cr.Rs. of equity in cash segment.

Nifty Major Support and Resistance for Positional Trading :
  • Now for nifty strong support level on 5600 level.
  • If Nifty manage to trade above Thursday's high 5693 then next resistance 5760 and 5820.
  • BSE Sensex strong support zone in between 18500-18520 level.
  • Next resistance for Sensex at 19100 to 19220 level.

You may also be interested in Intraday Stock Tips Using W.D Gann Method It will help you to find the intraday support and resistance of nifty-50 stock with W.D Gann mehod.