Published on 13/10/2017 2:34:54 PM | Source: Enrich Commodities India Pvt Ltd

We can expect a downfall in the market - Enrich Commodities

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


NIFTY MORNING OUTLOOK  

Pre-Market Friday! Asian market positive territory Nifty50 on the SGX were trading at 10127 +1.00 Points on indicating gap down opening for the NSE.

The biggest gainers of the session on the Nifty 50 were Hindalco Industries Ltd, which rose 5.99% or 14.95 points to trade at 264.45 at the close. Bharti Infratel Ltd added 5.24% or 21.50 points to end at 432.00 and Reliance Industries Ltd was up 4.22% or 35.45 points to 875.60 in late trade.

Biggest losers included Bharti Airtel Ltd, which lost 0.82% or 3.30 points to trade at 400.25 in late trade. UltraTech Cement Ltd declined 0.79% or 31.15 points to end at 3919.80 and Indian Oil Corporation Ltd. shed 0.77% or 3.20 points to 414.90.

Rupee desk: The USD/INR was down 0.17% to 65.062

FII Activity 12th October 2017 – FII DII Activity details mentioned below. In the cash market today, FII’s sold 668 crores stock whereas DII’s bought 872 crores worth of stock. In the derivative market, FII’s bought 262 crore of Index futures and sold 23 crores worth of Index options. In the Stock futures segment, FII’s bought 742 crores worth of stock futures and bought 99 crores stock options.

 

Technical Outlook:

Nifty future 4hr technical chart has formed “Rising wedge pattern”. The previous market session ended up near the resistance line of the channel but could not break it. Hence, we can expect a downfall in the market and the rally could reach towards 10050 level. Key resistance holds at 10150 and a short-term support holds at 10080.

 

Technical Chart:

 

 

To Read Complete Report & Disclaimer Click Here

 

 

Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer