Sensex, bankex stocks lead
India Infoline News Service / 14:14 , Jun 06, 2013
Selling pressure took a pause in yesterday’s trade as Nifty found support around its 100-DMA.

At 02:10 PM, the Sensex is trading up 34 points at 19,602 while the Nifty is down 19 points at 5,904.The BSE Small-Cap and Mid-Cap indices are trading flat.

HDFC, ICICI Bank, Maruti Suzuki, L&T Wipro, Mahindra & Mahindra, SBI and Coal India are leading while Bharti Airtel, Sun Pharma, Tata Steel, NTPC, Gail India and Hero MotoCorp are seeing some weakness.

Among sectors, realty, bankex, capital goods, auto, FMCG, IT and consumer durables are gainers while healthcare, metal disappointing., oil and gas, power and PSU disappoints.

According to Pritesh Mehta, Senior Technical Analyst at IIFL  says that though, selling pressure took a pause in yesterday’s trade as Nifty found support around its 100-DMA. However, Nifty has given a breakdown from the neckline of a bearish head & shoulder pattern suggesting weakness in the near term. 

Nifty has broken its corrective trend, which started from April lows.The intermediate trend is clearly bearish as long as we trade in below 5,940, he added.

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