Pre-Market Monday! Asian market positive trading, Nifty50 on the SGX were trading higher at 10775.50 +27.50 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 declined 0.01%, while the BSE Sensex 30 index lost 0.05%.
The biggest gainers of the session on the Nifty 50 were Sun Pharmaceutical Industries Ltd., which rose 8.02% or 39.20 points to trade at 528.25 at the close. Lupin Ltd added 5.56% or 42.70 points to end at 810.05 and Dr. Reddy’s Laboratories Ltd was up 4.83% or 95.00 points to 2062.90 in late trade.
Biggest losers included Hindalco Industries Ltd., which lost 2.59% or 6.45 points to trade at 242.15 in late trade. Power Grid Corporation of India Ltd declined 2.39% or 4.85 points to end at 197.90 and Housing Development Finance Corporation Ltd shed 1.53% or 28.55 points to 1840.45.
The breadth, indicating the overall health of the market, 1434 rose and 1127 declined, while 134 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.39 to 67.675.
CASH FLOW ANALYSIS
FII DII Activity 8th June 2018, In the cash market today, FII’s sold 222 crores stock whereas DII’s bought 459 crores worth of stock. In the derivative market, FII’s sold 852 crore of Index futures and bought 2814 crores worth of Index options. In the Stock futures segment, FII’s bought 127 crores worth of stock futures and bought 52 crores stock options.
Nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bullish in trend after retesting the channel’s support slope line. The market is expected to continue on the same trend, testing all the way through 10820-10900 levels in upcoming sessions. Alternatively, if the market breaks below a key support holding at 10700 then it might turn bearish once again. The downside rally could test 10600-10500 levels. Key resistance holds at 10900.
Research Report call: