Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 10650 +45 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 gained 0.96%, while the BSE Sensex 30 index climbed 0.95%.
The biggest gainers of the session on the Nifty 50 were Eicher Motors Ltd., which rose 6.23% or 1366.45 points to trade at 23241.85 at the close. Indian Oil Corporation Ltd added 4.44% or 6.00 points to end at 141.40 and Bharat Petroleum Corp. Ltd. was up 3.95% or 11.50 points to 303.15 in late trade.
Biggest losers included Sun Pharmaceutical Industries Ltd., which lost 4.75% or 28.00 points to trade at 561.75 in late trade. Tata Motors Ltd declined 3.65% or 6.80 points to end at 179.50 and Indiabulls Housing Finance Ltd shed 2.68% or 23.20 points to 841.95.
The breadth, indicating the overall health of the market, 1278 rose and 1250 declined, while 133 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.40% to 72.645.
CASH FLOW ANALYSIS
FII DII Activity 13th November 2018, In the cash market today, FII’s sold 494 crores stock whereas DII’s bought 335 crores worth of stock. In the derivative market, FII’s sold 111 crore of Index futures and bought 520 crores worth of Index options. In the Stock futures segment, FII’s sold 603 crores worth of stock futures and bought 6 crores stock options.
Nifty daily chart has formed “Megaphone chart” 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, once the same breaks below the key resistance holding at 10620. The upside rally could be testing all the way up to 10700-10800 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 10500-10400 level. Key support holds at 10400.
Research Report call: