Midcap index rose more than the Nifty while Smallcap index rose less even as the advance decline ratio was up at 1.49:1 - HDFC Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Daily Technical View on Nifty
* Nifty reversed early losses to end higher for the fifth session on Sept 07.
* At close, Nifty was up 0.59% or 116 points at 19727.1.
* Volumes on the NSE fell compared to the previous session.
* Midcap index rose more than the Nifty while Smallcap index rose less even as the advance decline ratio was up at 1.49:1.
* Nifty has been rising for last three consecutive sessions.
* Nifty smartly built on the gains of the previous 4 sessions and gave a breakout above the previous resistance zone of 19645.
* It could now stay in the 19795-19587 band with an upward bias for the near term.
* On the weekly charts, Nifty has broken from the bullish “Flag” pattern, which indicates continuation of an uptrend. Traders are advised to hold Nifty longs with 19584 stoploss.
* At present more than 91% of stocks are trading above their 200 DMA in NSE500, which indicates strong market breadth.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795
SEBI Registration number is INZ000171337
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
