Pre-Market Thursday! Asian market negative territory Nifty50 on the SGX were trading at 10458 -10 points on indicating flat opening for the NSE.
Indices down after four-day gains. Both the Nifty and the sensex closing lower. The Nifty dropped 19 points or 0.18% to settle at 10,444.20, The index rose 31.25 points, or 0.3%, at the days high of 10,494.45. The index dropped 26.05 points, or 0.24%, at the days low of 10,437.15. The Sensex fell 59.36 points or 0.18% to settle at 33,777.38, The index gained 119.57 points, or 0.35%, at the days high of 33,956.31. The index fell 81.80 points, or 0.24%, at the days low of 33,754.94.
The biggest gainers of the session on the Nifty50 were Hindalco Industries Ltd. which rose 1.53% or 3.90 points to trade at 258.35 at the close. Oil And Natural Gas Corporation Ltd added 1.46% or 2.70 points to end at 188.00 and Wipro Ltd was up 0.75% or 2.20 points to 296.50 in late trade.
Biggest losers included Eicher Motors Ltd. which lost 2.03% or 624.35 points to trade at 30174.60 in late trade. Dr. Reddy’s Laboratories Ltd declined 1.65% or 39.50 points to end at 2356.00 and Bharti Airtel Ltd. shed 1.49% or 8.00 points to 528.90.
The breadth, indicating the overall health of the market, 1545 rose and 1095 declined, while 176 ended unchanged.
Rupee desk: The USD/INR UP 0.04 to 64.13
CASH FLOW ANALYSIS
FII DII Activity 20 December 2017 FII’s sold 1505 crores stock whereas DII’s bought 146 crores worth of stock. In the derivative market, FII’s sold 347 crore of Index futures and bought 1628 crores worth of Index options. In the Stock futures segment, FII’s bought 1154 crores worth of stock futures and sold 118 crores stock options.
Nifty future daily chart has formed “Falling wedge” pattern. The channel’s resistance has broken where market might have a chance to test 10500 positive momentum till resistance. If it breaks the support 10380, the downside rally could test 10300-10260 in the upcoming session. Major Resistance holds at 10500 and major support at 10100. Buy above 10440, targets 10480, stop loss 10400. Sell below 10380 target 10300-10260 stop loss 10400.
Research Report call:
Nifty Buy above 10440 targets 10480 stop loss 10400.Sell below 10380 target 10300-10260 stop loss 10400.