Nifty Microcap 250 index has registered fresh all-time high in today`s trading session - HDFC Securities Ltd
Daily Technical View on Nifty
* After opening flat, markets sold off in the first half and indices were trading with 0.4% loss for the most part of the day, though final hour buying, especially in the IT, Realty names, erased all the losses for the day and markets closed the day with little change.
* Nifty closed the session with a loss of 0.04% or 9 points, fell for the third consecutive session to close at 24610. NSE cash market volumes were higher by 2% as compared to previous session.
* Nifty Midcap and smallcap Indices continued their outperformance. Nifty Midcap 100 and Smallcap 100 Indices rose for the thirteenth day on the trot where they gained by 0.23% and 0.28% respectively. Advancing shares outnumbered the declining shares where advance decline ratio stood at 1.04 on BSE.
* Nifty Microcap 250 index has registered fresh all-time high in today’s trading session, while Smallcap 100 index is just few points away from its all-time high. Nifty Realty index ended up 1.43%, the index has added 13.00% over last one month.
* Short term trend is still bullish as it is placed above its 5, 10 and 20 days EMAs. Short term support for the index is seen at 24400, while resistance for the same is seen at 24857.
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