Pre-Market Tuesday! Asian market positive trading, Nifty50 on the SGX were trading lower at 11480 -6.50 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 lost 1.30%, while the BSE Sensex 30 index fell 1.22%.
The biggest gainers of the session on the Nifty 50 were HCL Technologies Ltd, which rose 1.54% or 16.50 points to trade at 1088.70 at the close. AXIS Bank Ltd added 0.92% or 5.95 points to end at 651.75 and Zee Entertainment Enterprises Ltd. was up 0.66% or 3.10 points to 472.75 in late trade.
Biggest losers included Bajaj Finance Ltd, which lost 4.98% or 136.60 points to trade at 2615.65 in late trade. Indiabulls Housing Finance Ltd declined 4.23% or 51.30 points to end at 1161.25 and Sun Pharmaceutical Industries Ltd. shed 3.99% or 26.50 points to 638.00.
The breadth, indicating the overall health of the market, 1639 fell and 1000 advanced, while 163 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.44% to 72.425.
CASH FLOW ANALYSIS
FII DII Activity 10th September 2018, In the cash market today, FII’s sold 841 crores stock whereas DII’s sold 289 crores worth of stock. In the derivative market, FII’s sold 630 crore of Index futures and bought 1516 crores worth of Index options. In the Stock futures segment, FII’s sold 708 crores worth of stock futures and sold 175 crores stock options.
Nifty daily chart has formed “Rising channel” pattern. The last session ended up bearish in trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 11400. The downside rally could be testing all the way 11300-11200 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 11500-11600 levels. Key resistance holds at 11600.
Research Report call:
Nifty fut Sell below 11400 target 11300-11200 Stop loss 11450; Buy above 11450 target 11500-11600 stop loss 11400