Published on 20/03/2017 9:36:02 AM | Source: GEPLCapital Ltd
NIFTY closes at an all time HIGH as gradual stance by US FED props up the RISK-ON assets - GEPL
NIFTY closes at an all time HIGH as gradual stance by US FED props up the RISK-ON assets.…
* The NIFTY opened @ 9207.80, a once again a GAP-UP of around 54 points over Thursday, for the first time ever above the 9200 mark. However the merry was short lived as NIFTY saw profit booking emerging from the base. In the process NIFTY drifted down to par before closing little changed @ 9160.05 UP by 6.35 points or 0.07%.
* The broader indices moved in line with the benchmark NIFTY. While the NIFTY MID100 FREE closed UP by 0.05% to close @ 16901.70; the NIFTY SML100 FREE closed UP by 0.04% to close @ 6804.65. Both indices once again like the NIFTY have shown a closing all time HIGH. The breadth index in line with the flattish sentiment, stood clearly with the SIDEWAYS BAND @ 805 advances to 905 declines. The INDIA VIX was shot down further by half a percent to close a notch below the 12 mark.
* The sectoral & thematic indices traded MIXED. While the NIFTY FMCG raised the bar by moving UP by around 2%; the NIFTY PSU BANKS & NIFTY MEDIA move down by more than a percent or so.
* The dynamics of the market are little changed from Thursday with a positive weekly closing above the 9150 mark. On the weekly charts, after a strong consolidation of 13 days in a range 8850 - 9000, the market has held fort & same may see it continuing with the BULLISH stance to gate the extrapolated levels in the band of 9300-9500. As put up earlier, the psychological 9000 mark is behind us and it is advantage BULLS.
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