Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10723.50 -9.50 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 fell 0.29%, while the BSE Sensex 30 index declined 0.32%.
The biggest gainers of the session on the Nifty 50 were Indian Oil Corporation Ltd, which rose 4.02% or 6.65 points to trade at 170.25 at the close. Bharat Petroleum Corp. Ltd. added 3.73% or 15.30 points to end at 421.95 and Hindustan Petroleum Corporation Ltd was up 3.41% or 10.50 points to 315.20 in late trade.
Biggest losers included Mahindra & Mahindra Ltd., which lost 2.36% or 21.30 points to trade at 883.60 in late trade. Titan Company Ltd declined 1.95% or 17.35 points to end at 868.40 and Dr. Reddy’s Laboratories Ltd shed 2.10% or 49.75 points to 2316.40.
The breadth, indicating the overall health of the market, 1717 fell and 795 advanced, while 131 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.03 to 68.065.
CASH FLOW ANALYSIS
FII DII Activity 21st June 2018, In the cash market today, FII’s bought 1126 crores stock whereas DII’s bought 663 crores worth of stock. In the derivative market, FII’s bought 267 crore of Index futures and bought 2025 crores worth of Index options. In the Stock futures segment, FII’s sold 105 crores worth of stock futures and bought 86 crores stock options.
Nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bearish in trend near the channel’s support slope line. The market is expected to continue on the bearish term, once the same breaks below a key support holding at 10700. The downside rally could test all the way through 10650-10600 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 10800-10900 levels. Key resistance holds at 10900.
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