Pre-Market Monday Asian market positive trading, Nifty50 on the SGX were trading higher at 18240 +95.45 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 18240 +95.45 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 lost 0.35%, while the BSE Sensex 30 index fell 0.17%.
The biggest gainers of the session on the Nifty 50 were Housing Development Finance Corporation Ltd, which rose 2.10% or 59.85 points to trade at 2903.95 at the close. Bajaj Auto Ltd added 1.71% or 65.00 points to end at 3869.00 and Oil and Natural Gas Corporation Ltd was up 1.32% or 2.05 points to 157.05 in late trade.
Biggest losers included Hindalco Industries Ltd., which lost 4.72% or 23.30 points to trade at 470.45 in late trade. Coal India Ltd declined 3.56% or 6.50 points to end at 175.90 and Tata Motors Ltd shed 3.37% or 17.10 points to 490.90.
The breadth, indicating the overall health of the market, 1881 fell and 1239 advanced, while 134 ended unchanged on the India National Stock Exchange
Rupee desk: The USD/INR was down 0.01% to 74.862.
Technical outlook
Nifty 4hr chart has formed "Rising wedge" pattern. Although the Nifty has seen corrections but has managed to stay above strong support. Technically the upside trend remains intact, we expect to see a gap up today. The market is expected to continue on bullish momentum based on the current price action, once the same break above the stiff resistance level holding near 18200. The upside rally could be testing all the way up to 18350-18500 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 as long as the Key support holds near 18050. A slide to 17900-17750 is also a possibility if the price makes or break below the 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
Benchmark Index has support at 17,300 – 17,100 and resistance at 17,800 – 18,000 level - Mon...
