Sensex and Nifty close to 9300 levels and 2865 levels respectively. 2800 remains the level to watch for Nifty with immediate supports pegged at 2730-2750. The indices broadly traded range bound for the day. The struggle to find direction on either side has intensified. Nifty with immediate supports pegged at 2730-2750.
Banking stocks under-performed for the day with ICICI Bank looking weak and if the stock goes below Rs357 it will fall till Rs330. Maruti Suzuki India had a good run and Rs650 is on cards. ABG Shipyard looks strong and could target Rs104 levels the moment it goes past Rs96.
Technology, power, auto stocks as well as ONGC, Bharti, HDFC, Grasim and HDFC Bank were being supportive to the indices while selling pressure was seen in BHEL, L&T, ICICI Bank, SBI, HUL, SAIL, DLF, Unitech and ACC.