Nifty did not hold morning gains and fell more than 240 points from day’s high of 17442 - 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
Remain Long with 17100 Stoploss
* After gap up opening of more than 90 points, Nifty did not hold morning gains and fell more than 240 points from day’s high of 17442.
* Bank Nifty witnessed a fall of more than 750 points from day’s high and closed near day’s low.
* For last 4 consecutive sessions, BankNifty has been failing to close above its 50 days EMA, placed at 36403.
* However, Nifty and Bank Nifty both are still holding above their 5 days EMA placed at 17138 and 35971 respectively. Ø Amongst the sector, Auto, Banks and Reality were the losers while Nifty Metal and OIL/Gas Indices ended in the green.
* Though, declines outnumbered the advances where advance decline ratio stood at 0.76 on BSE, Nifty Midcaps Index closed in the green indicating stock specific market.
* While NSE Cash volumes were lower by 7% as compared to last ten-day average, F&O volumes were higher by 11%, suggesting actions were there mainly in F&O stocks
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
Nifty registers best week in 2 months after rising for 6 consecutive sessions
