Pre-Market Monday Asian market positive trading, Nifty50 on the SGX were trading higher at 15827.20 +80.05 points - Enrich Financial
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY MORNING OUTLOOK
Pre-Market Monday! Asian market positive trading, Nifty50 on the SGX were trading higher at 15827.20 +80.05 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 gained 0.27%, while the BSE Sensex 30 index added 0.32%.
The biggest gainers of the session on the Nifty 50 were Divis Laboratories Ltd., which rose 1.89% or 83.95 points to trade at 4519.65 at the close. ICICI Bank Ltd added 1.49% or 9.40 points to end at 640.25 and Reliance Industries Ltd was up 1.48% or 31.10 points to 2129.05 in late trade.
Biggest losers included Tata Steel Ltd, which lost 2.37% or 27.55 points to trade at 1136.00 in late trade. Britannia Industries Ltd declined 1.40% or 50.50 points to end at 3545.30 and JSW Steel Ltd shed 1.36% or 9.25 points to 671.30.
The breadth, indicating the overall health of the market, 1825 rose and 1239 declined, while 121 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.22% to 74.727.
Technical outlook
Nifty 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same break above a key resistance holding near 15750. The upside rally could be testing all the way up to 15900 & furthermore new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 15600. A slide to 15450-15300 levels is also a possibility if the price makes or break below the current support level.
Technical Chart
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Tag News
MCX Gold June futures technical chart has taken the formation of “Ascending broadening wedge...
More News
Pre-Market Wednesday Asian market positive trading, Nifty50 on the SGX were trading higher a...
