Indian equity indices extended their joyous ride for fifth straight session on Prime Minister Narendra Modi’s business friendly vision outlined during his Independence Day speech. During his speech Modi has invited foreign players to come and set up their business base in India. He also proposed to replace outdated Planning Commission with a new agency in tune with changing economic landscape. The buoyant mood persisted throughout the session amid reports of heavy FII buying in previous session persuading key benchmarks to rise in excess of one percent each while knocking off their all-time high marks. Sensex & Nifty closed at their life-time closing highs of 26391 and 7874 respectively. Oil & Gas topped the charts among sectorials on the reports of easing of brent crude prices.

1. Modi does a magic again; markets on life-time high
Market Snapshot | 18-08-2014 04:20 PM
Indian equity indices extended their joyous ride for fifth straight session on Prime Minister Narendra Modi’s business
friendly vision outlined during his Independence Day speech. During his speech Modi has invited foreign players to
come and set up their business base in India. He also proposed to replace outdated Planning Commission with a new
agency in tune with changing economic landscape. The buoyant mood persisted throughout the session amid reports
of heavy FII buying in previous session persuading key benchmarks to rise in excess of one percent each while
knocking off their all-time high marks. Sensex & Nifty closed at their life-time closing highs of 26391 and 7874
respectively. Oil & Gas topped the charts among sectorials on the reports of easing of brent crude prices.
On global front, US indices closed in negative at Friday session close. European markets were trending in positive
during today’s trade whereas Asian markets exhibited mixed trades.
Back home, on stock specific front ONGC rocked the show on crude price dip. In addition, the company has completed
the drilling of six exploratory wells.
Cipla Ltd closed among top gainers despite posting a 30% dip in its Q1 Net Profit.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 2002 and 1059 respectively,
while 116 scrips remained unmoved.
The S&P BSE Sensex ended at 26390.96, up 287.73 points or 1.10%. The 30 share index touched a high and a low
of 26413.11 and 26075.28 respectively. 24 stocks advanced against 5 declining ones on the benchmark index.
The CNX Nifty gained 82.55 points or 1.06% to settle at 7874.25. The index touched high and low of 7880.50 and
7779.20 respectively. 44 stocks advanced against 6 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 9170.35 and gained 1.80% while S&P BSE Small-cap index jumped up by
2.27% to 10047.47.
The broader S&P BSE 500 index increased to 9986.23 (up 1.31%) and CNX 500 index rose to 6294.10 (up 1.26%).
The volatility as denoted by INDIA VIX gained 2.12% at 13.50 from its previous close of 13.22 on Thursday.
Sectors in action
On the BSE Sectorial front, Oil & Gas (up 2.64%), Banks (up 2.36%) and Capital Goods (up 2.33%) were the top
gainers.
FMCG (down 0.44%) and Information Technology (down 0.41%) were the top losers.
The Angels and the Devils
Oil and Natural Gas Corporation Ltd (up 5.33%), Cipla Ltd (up 4.85%), Axis Bank (up 4.29%), Bharat Heavy Electricals
Ltd (up 4.00%) and Tata Motors Ltd (up 3.98%) were the top gainers on the Sensex.
ITC Ltd (down 1.68%), Infosys Ltd (down 1.26%), Housing Development Finance Corporation Ltd (down 1.04%), Tata
Consultancy Services Ltd (down 0.40%) and Hero MotoCorp Ltd (down 0.06%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (69.46 points), Oil and Natural Gas Corporation Ltd (43.00 points), Tata Motors Ltd (39.48 points), ITC Ltd
(-38.42 points) and Larsen And Toubro Ltd (32.79 points) were the major Sensex drivers today.
On the other end ICICI Bank (17.11 points), Oil and Natural Gas Corporation Ltd (10.52 points), ITC Ltd (-10.01
points), Tata Motors Ltd (9.90 points) and Larsen And Toubro Ltd (7.72 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7845 for next session. The next support is at 7809 and on upside it has a resistance at
7910 levels.

2. 7910 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
19-Aug-2014 7708 7743 7809 7845 7910 7946 8011 -
18-Aug-2014 7697 7718 7755 7776 7813 7833 7870 7874.25
14-Aug-2014 7643 7669 7704 7731 7766 7792 7827 7791.70
S&P BSE Sensex has a pivot at 26293 with first level of support and resistance at 26173 and 26511 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
19-Aug-2014 25835 25955 26173 26293 26511 26631 26849 -
18-Aug-2014 25798 25872 25987 26061 26177 26251 26367 26390.96
14-Aug-2014 25635 25714 25816 25894 25997 26075 26178 26103.23
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