Pre-Market Thursday Asian market positive trading, Nifty50 on the SGX were trading higher at 17527.80 +140.75 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 Thursday! Asian market positive trading, Nifty50 on the SGX were trading higher at 17527.80 +140.75 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 gained 0.80% to hit a new all-time high, while the BSE Sensex 30 index gained 0.82%.
The biggest gainers of the session on the Nifty 50 were NTPC Ltd, which rose 7.16% or 8.30 points to trade at 124.20 at the close. Bharti Airtel Ltd. added 4.51% or 31.30 points to end at 725.50 and Coal India Ltd was up 4.10% or 6.35 points to 161.05 in late trade.
Biggest losers included Tata Consumer Products Ltd, which lost 1.11% or 9.75 points to trade at 871.55 in late trade. Bharat Petroleum Corp. Ltd. declined 0.64% or 3.15 points to end at 489.95 and Nestle India Ltd shed 0.55% or 111.25 points to 20119.20.
The breadth, indicating the overall health of the market, 1940 rose and 1200 declined, while 110 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.22% to 73.476.
Technical outlook
Nifty daily chart has formed "Ascending broadening wedge" pattern. Since the Nifty traded higher & higher and has closed in the green, created a new historical high yet again. We expect today 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 17530. The upside rally could be testing all the way up to whole 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 as long as the key support holds near 17350. A slide to 17200-17050 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...
