NIFTY MORNING OUTLOOK
Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10388.50 -40.50 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 gained 0.05%, while the BSE Sensex 30 index fell 0.18%.
The biggest gainers of the session on the Nifty 50 were Bharat Petroleum Corp. Ltd., which rose 4.05% or 18.10 points to trade at 466.65 at the close. Hindustan Petroleum Corporation Ltd added 4.32% or 15.85 points to end at 382.95 and Bharti Infratel Ltd was up 2.65% or 9.00 points to 349.00 in late trade.
Biggest losers included Tata Consultancy Services Ltd., which lost 5.44% or 166.05 points to trade at 2886.80 in late trade. Kotak Mahindra Bank Ltd. declined 1.62% or 17.80 points to end at 1083.90 and HCL Technologies Ltd shed 0.79% or 7.65 points to 957.00.
The breadth, indicating the overall health of the market, 1682 rose and 935 declined, while 151 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.14% to 64.875.
CASH FLOW ANALYSIS
FII DII Activity 13th March 2018, In the cash market today, FII’s bought 7028 crores stock whereas DII’s bought 1613 crores worth of stock. In the derivative market, FII’s sold 243 crore of Index futures and sold 295 crores worth of Index options. In the Stock futures segment, FII’s bought 165 crores worth of stock futures and sold 148 crores stock options.
Nifty 4hr chart continues in "Megaphone chart” pattern. The last few sessions seems consolidated after retesting a resistance level holding at 10500. The market is expected to continue in bearish momentum, testing all the way through 10400-10300 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance then it might turn bullish once again. The upside rally could test 10550-10600. Support holds at 10150.
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