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Enrich Commodities India Pvt.Ltd

Published on 30/10/2020 10:49:05 AM

Technical outlook

Nifty daily chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is expected to continue on bearish momentum based on current price action, once the same break below a key support holding near 11600. The downside rally could be testing all the way up to 11450-11300 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode. Key resistance holds near 11800. A slide to 11950-12100 is also a possibility if the price makes or break above the current resistance level.

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Enrich Commodities India Pvt.Ltd

Published on 30/10/2020 10:48:49 AM

NIFTY MORNING OUTLOOK

Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 11642.50 -27.70 points on indicating gap down opening for the NSE.

At the close in NSE, the Nifty 50 declined 0.50%, while the BSE Sensex 30 index fell 0.43%.

The biggest gainers of the session on the Nifty 50 were Asian Paints Ltd., which rose 2.89% or 62.45 points to trade at 2222.00 at the close. Tech Mahindra Ltd added 2.20% or 17.40 points to end at 806.70 and UltraTech Cement Ltd was up 1.64% or 73.30 points to 4542.60 in late trade.

Biggest losers included Larsen & Toubro Ltd, which lost 4.97% or 48.85 points to trade at 934.00 in late trade. Titan Company Ltd declined 3.34% or 40.60 points to end at 1176.40 and Adani Port and Special Economic Zone Ltd shed 3.15% or 11.15 points to 342.50. The breadth, indicating the overall health of the market, 1491 fell and 1014 advanced, while 176 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.32% to 74.420.

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Enrich Commodities India Pvt.Ltd

Published on 28/10/2020 11:46:52 AM

Technical outlook

Nifty daily chart has formed "Rising channel" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is expected to continue on bullish momentum based on current price action, once the same break above a key resistance holding near 11950. The upside rally could be testing all the way up to 12100-12250 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 11650. A slide to 11500 is also a possibility if the price makes or break below the current support level.

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Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 28/10/2020 11:46:34 AM

NIFTY MORNING OUTLOOK

Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading lower at 11845.80 -29.20 points on indicating gap down opening for the NSE.

At the close in NSE, the Nifty 50 added 1.03%, while the BSE Sensex 30 index added 0.94%.

The biggest gainers of the session on the Nifty 50 were Kotak Mahindra Bank Ltd., which rose 11.70% or 165.80 points to trade at 1582.70 at the close. Nestle India Ltd added 5.97% or 970.65 points to end at 17230.00 and Asian Paints Ltd. was up 5.69% or 118.30 points to 2198.75 in late trade.

Biggest losers included Housing Development Finance Corporation Ltd, which lost 2.10% or 43.60 points to trade at 2029.75 in late trade. Tata Consultancy Services Ltd. declined 1.99% or 53.40 points to end at 2634.80 and Oil and Natural Gas Corporation Ltd shed 1.83% or 1.25 points to 66.95.

The breadth, indicating the overall health of the market, 1345 fell and 1219 advanced, while 175 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was down 0.33% to 73.714.

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Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632

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