Published on 13/09/2017 9:59:30 AM | Source: Enrich Commodities India Pvt Ltd

Previous market is moving in a narrow range of 9,850 - 10,050 which is broken out - Enrich Commodities

Posted in Market Outlook | #Market Outlook #Enrich Commodities India Pvt Ltd


NIFTY MORNING OUTLOOK

World index tracking Wall Street hit record closing highs on Tuesday.Nifty50 on the SGX were trading at 1,0094 -14 points lower indicating flat opening for the NSE.

On Wednesday Nifty 50 index gained 87 points or 0.87% to settle at 10,093.05, The Nifty rose 91.50 points, or 0.91% at the day’s high of 10,097.55 in late trade. The index rose 22 points, or 0.22% at the days low of 10,028.05 in morning trade. Overall strength in the market still prevails and it was good to see no retracement of yesterday’s session. One or two more such session would ensure further sustained up move for market.

The biggest gainers of the session on the Nifty50 were Bharat Petroleum Corp. Ltd. which rose 4.22% or 21.60 points to trade at 533.85 at the close. GAIL Ltd added 3.75% or 14.80 points to end at 409.60 and Tata Motors Ltd was up 3.45% or 12.95 points to 388.25 in late trade.

Biggest losers included IndusInd Bank Ltd. which lost 2.76% or 49.35 points to trade at 1741.90 in late trade. Wipro Ltd declined 1.01% or 3.05 points to end at 298.10 and Hero MotoCorp Ltd shed 0.65% or 25.60 points to 3918.90.

Rupee desk: The USD/INR was rise 0.12 to 64.1575

 

CASH FLOW ANALYSIS

FII DII Activity 12th September 2017. In the cash, In the cash market, FII’s sold 1230 crores stock whereas DII’s bought 1313 crores worth of stock. In the derivative market, FII’s sold 298 crore of Index futures and sold 18 crores worth of Index options. In the Stock futures segment, FII’s bought 211 crores worth of stock futures and sold 68 crores stock options. In last’s session, FII’s have increased their exposure in Index long futures (by 0.1%) and their positions in Index shorts is increased by 4.1%. In options, FII’s have increased positions in Index Call (long) by 3.2% and positions in Index Put (long) is increased by 1.4%.

 

Technical outlook

Trading Pattern analysis according to the previous session movement in the nifty shows a bullish candle slightly long lower shadow and rising wedge pattern as the open price is near the day’s low and closing price is well above the opening price. Previous market is moving in a narrow range of 9,850 - 10,050 which is broken out. The trend is strong bullish. Avoid short selling on current levels and nifty50 expected target is 10140. key support holds at 10050 key resistance holds at 10140. Bank nifty is stronger compared to nifty.

 

Technical Chart:

 

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