Published on 15/11/2017 10:50:49 AM | Source: Enrich Commodities India Pvt Ltd

The Nifty 50 index fell 38.35 points or 0.38% at 10,186.60 - Enrich Commodities

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


Pre-Market Wednesday! Asian market negative territory Nifty50 on the SGX were trading at 10191 -37 points on indicating gap down opening for the NSE.

The Nifty 50 index fell 38.35 points or 0.38% at 10,186.60, The index rose 23.05 points, or 0.23% at the days high of 10,248. The index fell 49.40 points, or 0.48% at the days low of 10,175.55

The biggest gainers of the session on the Nifty50 were Hero MotoCorp Ltd, which rose 2.10% or 75.30 points to trade at 3655.20 at the close. AXIS Bank Ltd added 1.54% or 8.30 points to end at 545.65 and Bajaj Finance Ltd was up 1.51% or 26.15 points to 1754.90 in late trade.

Biggest losers included Bharti Infratel Ltd, which lost 4.46% or 18.55 points to trade at 396.95 in late trade. Indian Oil Corporation Ltd. declined 2.49% or 9.90 points to end at 386.95 and Larsen & Toubro Ltd shed 2.45% or 30.35 points to 1210.20.

The breadth, indicating the overall health of the market, NSE 1610 fell and 1069 advanced, while 147 ended unchanged.

Rupee desk: The USD/INR was up 0.02 to 65.54

CASH FLOW ANALYSIS

FII DII Activity 14 November 2017, In the cash market FII’s bought 2576 crores stock whereas DII’s sold 1 crores worth of stock. In the derivative market, FII’s sold 820 crore of Index futures and sold 989 crores worth of Index options. In the Stock futures segment, FII’s sold 1866 crores worth of stock futures and bought 70 crores stock options.

Technical outlook

Trading Pattern analysis according to the previous session, Nifty movement has formed bearish candle as the opening price is near the highs and closing price was near the lows of the day. “Falling wedge” pattern for a strong resistance 10300 could keep the bearish sentiment. Nifty managed support at 10120. Sell around 10240. Target-10180-10120. Maintain a stop loss at 10280.

 

Technical Chart:

 

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