0 Daily News Letter - Share Market


Nifty (5652.15 -52.45)

On the back of negative cues from global front, index opened with down gap and traded range bound 5660-5685 level in first half of the session but surrendered to selling pressure in the later half. Finally, it lost close to one percent with market breadth ending deep in red. Among sectorial pivots, Realty pack lost maximum as it lost more than four percent followed by Power, Bankex and PSU pivot respectively. On intraday chart, it has breached support area of 5670 level (i.e. 23.20 %) as per Fibonacci retracement and closed below the same as well and now the next support zone is around 5580 levels. On the other hand, 5700-5750 zone would act as hurdle in case of any technical bounce from current levels so we might see consolidation to continue in above mentioned levels in near term.

At the National Stock Exchange the advances were 394 and declines were 1131 whereas at the Bombay Stock Exchange advances were 978 and declines were 1929. On Wednesday, Bank Nifty lost 1.35% to close at 11291.50; CNX-IT lost 0.78% to close at 6225.80.
  • FIIs were net buyers in the cash segment to the tune of | 408 crore while they were net sellers in stock futures and index futures to the tune of | 424 crore and | 1012 crore, respectively
  • Options : on the Call side, 5700 and 5900 Call saw additions of 1.35 million shares and 0.8 million shares. On the Put side, 5400 and 5500 Put added 0.5-0.6 million shares each

Nifty: The Nifty is likely to open flat on the back of flattish Asian cues. It is likely to trade in the range of 5640-5720. The trading strategy would be to create short positions if the Nifty resists at around 5710 levels for targets of 5670 and 5650. On the other hand, one can also create long positions if it takes support at around 5640 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 11300-11500


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