Pre-Market Thursday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10726 -41 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 rose 1.24%, while the BSE Sensex 30 index gained 1.14%.
The biggest gainers of the session on the Nifty 50 were Indiabulls Housing Finance Ltd, which rose 6.14% or 37.70 points to trade at 645.20 at the close. Vedanta Ltd added 4.64% or 7.10 points to end at 160.25 and Adani Port and Special Economic Zone Ltd was up 4.43% or 15.05 points to 354.75 in late trade.
Biggest losers included Hero MotoCorp Ltd, which lost 0.30% or 7.85 points to trade at 2623.75 in late trade. Bajaj Auto Ltd added 0.24% or 6.65 points to end at 2774.70 and Dr. Reddy’s Laboratories Ltd shed 0.35% or 8.90 points to 2525.15.
The breadth, indicating the overall health of the market, 1442 rose and 1073 declined, while 142 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.24% to 71.121.
CASH FLOW ANALYSIS
FII DII Activity 20th February 2019, In the cash market today, FII’s bought 713 crores stock whereas DII’s bought 113 crores worth of stock. In the derivative market, FII’s bought 746 crore of Index futures and bought 2206 crores worth of Index options. In the Stock futures segment, FII’s bought 266 crores worth of stock futures and sold 111 crores stock options.
Technical outlook
Nifty daily chart has formed “Rising wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 10800. The upside rally could be testing all the way up to 10900-11000 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 10650-10560 levels. Key support holds at 10560.
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Technical Chart: