0 Daily News Letter - Share Market


Nifty (5703.30 +53.80)

To conclude the week, index opened strongly in green and scaled further northward to test resistance zone around 5740 level. Incidentally, it has formed a new fifty weeks high though the volume remained marginally low on cash front. Among the sectorial indices, majority ended in green with Auto, Consumer durable, FMCG and Metal pivot attaining the top slot respectively. As we can see on daily chart, it’s trading in rising channel(see the above chart) and steadily approaching to upper trend line of the same so we might see profit taking around that zone but stock specific move will continue. On the monthly basis, Nifty gained more than eight percent with considerable buying on cash front. Besides, volume also supported the move so the overall bias will remain on positive side. Considering all the factors, an investor may opt for buying on dips in selective stocks with view of next six month to a year for considerable returns. 

At the National Stock Exchange the advances were 925 and declines were 595 whereas at the Bombay Stock Exchange advances were 1644 and declines were 1248. On Friday, Bank Nifty gained 0.33% to close at 11456.80; CNX-IT gained 0.46% to close at 6313.80.

  • FIIs were net buyers in the cash segment and index futures segment to the tune of | 1230 crore and | 999 crore, respectively. They, however, created shorts in stock futures to the tune of | 679 crore.
  • India VIX came down from 16.91 to 16.16 (down 4.44%)
  • Options : on the Call side, 5700 Call saw closure of 0.6 million shares whereas 6000 Call added 0.7 million shares. On the Put side, 5400 and 5500 Put added 1.25 million shares and 1.1 million shares, respectively


Nifty: The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 5690-5780. The trading strategy would be to create long positions if the Nifty takes support at around 5700 levels for targets of 5735 and 5755. On the other hand, one can also create short positions if it resists at around 5780 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 10350-11600



Disclosure/Disclaimer and FAQ

*If you have any questions, queries or need more explanation, leave comments below also please don't forget to LIKE my page. Our commitment to you: we want to make money with you, not from you. We execute all trades that we share with members at our personal account. If you lose we lose too. If you profit, we profit too. Contact us at [email protected] if you have any questions.
 
people like this. be the first of your friends.

FREE SUBSCRIPTION

0 comments:

Post a Comment

Thanks for giving your valuable inputs, TRENDGURUS

OUR EXPERTISE

We provide expert in our field. Over 5+ years of experience we will ensure that you are always getting good guidance from the top people in the industry.

Thought of the day

"The man who has minted money with both hands in the Indian stock market says wealth is important but is not the source of all happiness.", Rakesh Jhunjhuwala

SUBSCRIBE US

Latest News

1) PM Modi fires back at the opposition, forcefully defend demonetisation 2) Nirav Modi to Stay in Jail for at least 28 more days.

By Using this website\Blog, you agree to the Disclaimer provided at Disclaimer -|- Designed by Tritan Solutions Pvt. Ltd -|- Copyright © 2019 -|- All rights reserved

ERP MLM Ecommerce Algo Software Development Company in Delhi | Digital Marketing | Algorithmic Trading | Ecommerce website