Published on 7/12/2017 10:31:58 AM | Source: Enrich Commodities India Pvt Ltd

. We recommend rise on sell Nifty 10100 target 10020 maintain a stop loss at 10140 closing bases - Enrich Commodities

Posted in | #Market Outlook #Enrich Commodities India Pvt Ltd


NIFTY MORNING OUTLOOK

Pre-Market Thursday! Asian market Negative territory Nifty50 on the SGX were trading at 10070 -1 points on indicating flat opening for the NSE. The Nifty lost 74.15 points or 0.73% to settle at 10,044.10, The Nifty fell 14.05 points, or 0.14% at the days high of 10,104.20 in morning trade. The index fell 84.90 points, or 0.84% at the days low of 10,033.35 mid-day.

The biggest gainers of the session on the NIFTY50 were Tech Mahindra Ltd, which rose 1.47% or 6.85 points to trade at 472.25 at the close. Reliance Industries Ltd added 1.42% or 12.95 points to end at 926.65 and Maruti Suzuki India Ltd. was up 1.37% or 116.60 points to 8612.40 in late trade.

Biggest losers included Bosch Ltd, which lost 3.84% or 764.20 points to trade at 19149.95 in late trade. Hindalco Industries Ltd. declined 3.31% or 7.95 points to end at 232.10 and Eicher Motors Ltd. shed 2.67% or 771.00 points to 28157.80. The breadth, indicating the overall health of the market, NSE 1614 fell and 959 advanced, while 168 ended unchanged.

Rupee desk: The USD/INR UP 0.14% to 64.64

CASH FLOW ANALYSIS

FII DII Activity 6 December 2017, In the cash market, FII’s sold 1217 crores stock whereas DII’s bought 995 crores worth of stock. In the derivative market, FII’s sold 446 crore of Index futures and bought 58 crores worth of Index options. In the Stock futures segment, FII’s bought 518 crores worth of stock futures and sold 35 crores stock options.

Technical outlook

Trading Pattern analysis according to the previous session, Nifty formed “Descending triangle pattern” support have broken as the opening price is near the highs of the day and closing price is near the lows of the day. this means market is still in the bears hand level extended 10000 We are expecting nifty consolidation zone of 10,000- 10,300. We recommend rise on sell Nifty 10100 target 10020 maintain a stop loss at 10140 closing bases.

Technical Chart:

 

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