Market action for the day

Market action for the day

Indian equity benchmarks slipped into the red in the week gone by due to profit-booking amid mixed global cues.

The S&P BSE Sensex wiped out gains made during the past week and closed with a minor cut of 0.4 percent while the Nifty50 fell 0.3 percent for the week ended August 14. The S&P BSE Mid-cap index rose 1.5 percent, and the S&P BSE Small-cap index closed with gains of 1.3 percent for the week ended August 14.

In the previous trading session, the Sensex closed 433 points, or 1.13 percent, lower at 37,877.34 and the Nifty ended at 11,178.40, down 122 points or 1.08 percent.

Nifty – According to pivot charts, the key support level for the Nifty is placed at 11,071.2, followed by 10,964. If the index moves up, the key resistance levels to watch out for are 11,325.9 and 11,473.4.

Nifty Bank – Bank Nifty closed 2.33 percent lower at 21,679.40 on August 14. The important pivot level, which will act as crucial support for the index, is placed at 21,314.03, followed by 20,948.67. On the upside, key resistance levels are placed at 22,189.83 and 22,700.27.

Nifty Chart

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FII Activity

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Stocks to watch for the day

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