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Nifty Morning Outlook
Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 11855 -10 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 gained 1.20%, while the BSE Sensex 30 index gained 1.25%.
The biggest gainers of the session on the Nifty 50 were Yes Bank Ltd, which rose 11.43% or 11.80 points to trade at 114.55 at the close. Indiabulls Housing Finance Ltd added 8.55% or 47.50 points to end at 599.75 and Sun Pharmaceutical Industries Ltd. was up 3.68% or 13.80 points to 390.50 in late trade.
Biggest losers included UPL Ltd, which lost 8.45% or 80.30 points to trade at 870.25 in late trade. Wipro Ltd declined 2.48% or 7.30 points to end at 286.95 and Adani Port and Special Economic Zone Ltd shed 1.34% or 5.45 points to 401.20.
The breadth, indicating the overall health of the market, 1465 rose and 984 declined, while 128 ended unchanged on the India National Stock Exchange.
Rupee desk:The USD/INR was down 0.03% to 69.582.
CASH FLOW ANALYSIS
FII DII Activity 20th June 2019, In the cash market today, FII’s sold 438 crores stock whereas DII’s bought 1241 crores worth of stock. In the derivative market, FII’s sold 236 crore of Index futures and bought 1508 crores worth of Index options. In the Stock futures segment, FII’s bought 1075 crores worth of stock futures and bought 133 crores stock options.
Nifty daily chart has formed“Ascending broadening wedge”pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, once thesame breaks above a key resistance holding at 11850. The upside rally could be testing all the way up to 11950-12100 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. Thedownside rally could test up to 11650 level. Key support holds at 11650.
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