Pre-Market Monday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10437 -66 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 added 0.21% to hit a new 1-month high, while the BSE Sensex 30 index added 0.27%.
The biggest gainers of the session on the Nifty 50 were Adani Port and Special Economic Zone Ltd, which rose 2.89% or 10.75 points to trade at 383.10 at the close. Tech Mahindra Ltd added 2.87% or 18.75 points to end at 671.55 and Wipro Ltd was up 2.54% or 7.30 points to 294.15 in late trade.
Biggest losers included Bharat Petroleum Corp. Ltd., which lost 3.16% or 13.25 points to trade at 405.40 in late trade. Bajaj Finserv Ltd declined 1.64% or 88.75 points to end at 5316.80 and HCL Technologies Ltd shed 1.86% or 18.80 points to 991.25.
The breadth, indicating the overall health of the market, 1403 fell and 1241 advanced, while 125 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.13 to 65.205.
CASH FLOW ANALYSIS
FII DII Activity 13th April 2018, In the cash market today, FII’s sold 399 crores stock whereas DII’s bought 306 crores worth of stock. In the derivative market, FII’s sold 248 crore of Index futures and bought 193 crores worth of Index options. In the Stock futures segment, FII’s bought 835 crores worth of stock futures and sold 64 crores stock options.
Nifty daily chart has formed “Descending channel” pattern. The last session ended up bearish in trend retesting near the major resistance holding at 10550, as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the major resistance. The upside rally could test all the way through 10600-10700 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 10450-10400 levels. Key support holds at 10250 and major support at 9950.
Research Report call: