Published on 21/04/2017 9:42:13 AM | Source: GEPLCapital Ltd

Nifty holds 9100 on closing basis, even as broader markets continue with the outperformance - GEPL

Posted in Market Outlook| #GEPLCapital Ltd #Market Outlook

Key Highlights:

NIFTY holds 9100 on closing basis, even as broader markets continue with the outperformance.…

* The NIFTY opened @ 9108.10, marginally UP by around 5 points over Wednesday. The whole trading session remained largely rangebound, with the NIFTY walleting in a tight 41 point range spacing 9102.65 & 9143.90. Without much traction, the NIFTY closed little changed, yes this time on the BULL side, UP by 32.9 points or 0.36%.

* The broader markets seemed to outperform the benchmark NIFTY. While the NIFTY MID100 FREE closed UP by 0.91% to close @ 17796.10; the NIFTY SML100 FREE closed UP by around 1.98% to close @ 7319.40. Surprisingly enough, these happen to be all time closing highs. The breadth index in line with the broader market outperformance remained with the BULLS @ 1220 advances to 497 declines. The INDIA VIX closed down by 5.36%, to close at the 11.56 mark.

* The sectoral & thematic indices remained a MIXED pack. While on one hand, NIFTY REALTY & NIFTY MEDIA moved up by more than 2 percent; the NIFTY PVT BANKS & NIFTY PHARMA were at the receiving end. Nonetheless, the chips were scattered, hovering just around the percent mark.

* The dynamics of the market are little changed from earlier session & still seem to be evenly poised with the shift of advantage to the BULLS from the BEARS like a TENNIS match. The profit booking bandwagon is back to the FORE & yet the BEARS have lacked the decisive PUNCH. On the lower side 9020, would be a level of premier importance, given that it corresponds to the 3 week LOW. As mentioned earlier, in the intermediate sense, the upside may have possible extensions only till the 9300-9500 mark; and the same seems to be coming through in the form of good corrections at higher levels. On the other hand the 9180 mark & the all time HIGH @ 9270 seems entrenched on the psyche of the BULLS.


To Read Complete Report & Disclaimer Click Here    


For More GEPLCapital Ltd Disclaimer & SEBI Registration number is INH000000081  


Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer