Nifty analysis

Short term trend : Bullish

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The CNX Nifty garnered 64 points or 1.05% to settle at 6,155.45, its highest closing level since 24 January 2014. The index hit a high of 6,159.65 and a low of 6,108 in intraday trade.

Key benchmark indices edged higher on the last trading session of the week, with the market sentiment boosted by data showing that foreign funds remained net buyers of Indian stocks on Thursday, 20 February 2014. Gains in Asian and European stocks also aided the upmove on the domestic bourses. The 50-unit CNX Nifty hit 4-week closing high. The market breadth, indicating the overall health of the market, was positive.

Market Lot	:	50
Open/ Prev. Close	:	6,125.00 / 6,107.95
High/ Low	:	6,169.85 / 6,118.00
Best Buy/ Sell	:	6,161.00 / 6,161.65
Average Price	:	6,149.81
No of Contracts	:	174,281
Volume	:	8,714,050
Underlying Price (chg %)	:	6,155.45 (1.05)
Open Interest (no of shares)	:	15,025,400
Change In OI (no of shares)	:	151,350

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,480 shares rose and 1,182 shares fell. A total of 154 shares were unchanged.

Among the 30-share Sensex pack, 22 stocks rose and rest fell.

Cement stocks surged on reports that cement makers have raised cement prices in North India this month. ACC, Ambuja Cements, Shree Cement and UltraTech Cement rose 3.7% to 6.09%. "Prices are up by Rs 30-45 per bag month-on-month in February (over Jan-14 average) across all these markets (North largely Delhi, Rajasthan and Punjab)," a brokerage wrote in an email to clients today, 21 February 2014, according to reports.

Index heavyweight and cigarette maker ITC rose 1.7% at Rs 317.10. The stock hit high of Rs 317.85 and low of Rs 313.

Index heavyweight Reliance Industries (RIL) rose 0.56% at Rs 809.85. The scrip hit high of Rs 815.95 and low of Rs 806.20.

Bank stocks were mostly higher. Among private sector banks, ICICI Bank (up 1.83%), Yes Bank (up 1.16%), Federal Bank (up 1.38%), and AXIS Bank (up 2.7%), gained. HDFC Bank (down 0.19%) and Kotak Mahindra Bank (down 0.37%) declined

Among PSU bank stocks, State Bank of India, Canara Bank, Bank of India, Bank of Baroda and Punjab National Bank shed 0.24% to 1.05%. Union Bank of India fell 0.29%.