Published on 8/07/2020 11:02:07 AM
Technical outlook
Nifty fut 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode inside the channel. The market is expected to continue on bullish momentum based on current price action, once breaking above a key resistance level holding near 10830. The upside rally could be testing all the way up to 11000-11120 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might revise the trend to bearish/sideways mode. Key support holds near 10500.
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Published on 8/07/2020 11:01:56 AM
NIFTY MORNING OUTLOOK
Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10807.80 -6.25 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 added 0.33% to hit a new 3-month high, while the BSE Sensex 30 index added 0.51%.
The biggest gainers of the session on the Nifty 50 were Bajaj Finance Ltd, which rose 7.76% or 241.10 points to trade at 3349.90 at the close. IndusInd Bank Ltd. added 5.86% or 29.05 points to end at 524.95 and Bajaj Finserv Ltd was up 4.47% or 280.95 points to 6565.95 in late trade.
Biggest losers included Adani Port and Special Economic Zone Ltd, which lost 3.53% or 12.70 points to trade at 346.75 in late trade. Power Grid Corporation of India Ltd declined 2.98% or 5.30 points to end at 172.70 and Grasim Industries Ltd shed 2.87% or 18.40 points to 622.75.
The breadth, indicating the overall health of the market, 1324 fell and 1247 advanced, while 143 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.34% to 74.880.
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Published on 7/07/2020 9:15:02 AM
Technical outlook
Nifty fut 2hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode inside the channel. The market is expected to continue on bearish momentum based on current price action, testing all the way up to 10500 levels in the upcoming sessions. Alternatively, if the market breaks above a stiff resistance level holding near 10800, then it might revise the trend to bullish/sideways mode. Key support holds near 10500.
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Published on 7/07/2020 9:14:34 AM
NIFTY MORNING OUTLOOK
Pre-Market Tuesday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10727.80 -57 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 added 1.47% to hit a new 3-month high, while the BSE Sensex 30 index climbed 1.29%.
The biggest gainers of the session on the Nifty 50 were Mahindra & Mahindra Ltd., which rose 7.39% or 39.20 points to trade at 569.70 at the close. Bajaj Finance Ltd added 6.46% or 189.50 points to end at 3121.00 and Hindalco Industries Ltd. was up 5.67% or 8.30 points to 154.70 in late trade.
Biggest losers included ITC Ltd, which lost 3.42% or 7.10 points to trade at 200.45 in late trade. Bajaj Auto Ltd declined 1.07% or 31.40 points to end at 2901.00 and GAIL Ltd shed 1.00% or 1.05 points to 103.85.
The breadth, indicating the overall health of the market, 1530 rose and 1092 declined, while 170 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.04% to 74.604.
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Published on 6/07/2020 8:53:33 AM
Technical outlook
Nifty fut daily chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode inside the channel. The market is expected to continue on bearish momentum based on current price action, testing all the way up to 10200 levels in the upcoming sessions. Alternatively, if the market opens on gap up based on SGX data breaking above a key resistance level holding near 10650, then it might revise the trend to bullish/sideways mode. Key support holds near 10200.
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Published on 6/07/2020 8:53:22 AM
NIFTY MORNING OUTLOOK
Pre-Market Monday! Asian market positive trading, Nifty50 on the SGX were trading higher at 10650 +71.50 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 added 0.53% to hit a new 3-month high, while the BSE Sensex 30 index added 0.50%.
The biggest gainers of the session on the Nifty 50 were Eicher Motors Ltd., which rose 4.18% or 767.40 points to trade at 19121.00 at the close. Adani Port and Special Economic Zone Ltd added 4.12% or 14.30 points to end at 361.10 and Bharti Airtel Ltd. was up 4.08% or 22.80 points to 581.25 in late trade.
Biggest losers included JSW Steel Ltd, which lost 1.77% or 3.45 points to trade at 191.00 in late trade. Tata Steel Ltd declined 1.76% or 5.90 points to end at 329.00 and IndusInd Bank Ltd. shed 1.48% or 7.30 points to 487.50.
The breadth, indicating the overall health of the market, 1307 fell and 1258 advanced, while 136 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.10% to 74.666.
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Published on 3/07/2020 9:09:34 AM
Technical outlook
Nifty fut 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode inside the channel. The market is expected to continue on bearish momentum based on current price action, testing all the way up to 10200 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance level holding near 10600, then it might revise the trend to bullish/sideways mode. Key support holds near 10200.
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SEBI Registration number is INZ000078632
Published on 3/07/2020 9:09:06 AM
NIFTY MORNING OUTLOOK
Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10590.50 -22.25 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 gained 1.17% to hit a new 3-month high, while the BSE Sensex 30 index added 1.21%.
The biggest gainers of the session on the Nifty 50 were Mahindra & Mahindra Ltd., which rose 6.42% or 32.05 points to trade at 531.00 at the close. Hero MotoCorp Ltd added 5.20% or 132.55 points to end at 2680.00 and Cipla Ltd. was up 3.80% or 23.85 points to 650.95 in late trade.
Biggest losers included AXIS Bank Ltd, which lost 1.95% or 8.45 points to trade at 424.80 in late trade. UPL Ltd declined 1.00% or 4.45 points to end at 442.50 and Vedanta Ltd shed 0.88% or 0.95 points to 106.75.
The breadth, indicating the overall health of the market, 1604 rose and 1003 declined, while 107 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.90% to 74.801.
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Published on 2/07/2020 8:50:53 AM
Technical outlook
Nifty fut 2hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode inside the channel. The market is expected to continue on bullish momentum based on current price action, once the same breaks above a key resistance holding near 10450. The upside rally could be testing all the way up to 10740-10900 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode. Key support holds near 10300.
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Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632
Published on 2/07/2020 8:50:38 AM
NIFTY MORNING OUTLOOK
Pre-Market Thursday! Asian market positive trading, Nifty50 on the SGX were trading higher at 10454.50 +57.95 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 added 1.24%, while the BSE Sensex 30 index climbed 1.43%.
The biggest gainers of the session on the Nifty 50 were AXIS Bank Ltd, which rose 6.34% or 25.80 points to trade at 432.45 at the close. UPL Ltd added 5.27% or 22.40 points to end at 447.60 and Bajaj Finserv Ltd was up 5.20% or 303.70 points to 6148.85 in late trade.
Biggest losers included NTPC Ltd, which lost 2.14% or 2.05 points to trade at 93.75 in late trade. Nestle India Ltd declined 2.06% or 354.45 points to end at 16820.00 and Larsen & Toubro Ltd shed 1.99% or 18.80 points to 924.85.
The breadth, indicating the overall health of the market, 1400 rose and 1210 declined, while 105 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.05% to 75.577.
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The positive rally could be testing all the way up to 3150-3220 levels - Enrich Commodities
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