Equity Report

Pre-Market Monday! Asian market positive trading, Nifty50 on the SGX were trading higher at 18240 +95.45 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 lost 0.35%, while the BSE Sensex 30 index fell 0.17%.

The biggest gainers of the session on the Nifty 50 were Housing Development Finance Corporation Ltd, which rose 2.10% or 59.85 points to trade at 2903.95 at the close. Bajaj Auto Ltd added 1.71% or 65.00 points to end at 3869.00 and Oil and Natural Gas Corporation Ltd was up 1.32% or 2.05 points to 157.05 in late trade.

Biggest losers included Hindalco Industries Ltd., which lost 4.72% or 23.30 points to trade at 470.45 in late trade. Coal India Ltd declined 3.56% or 6.50 points to end at 175.90 and Tata Motors Ltd shed 3.37% or 17.10 points to 490.90.

The breadth, indicating the overall health of the market, 1881 fell and 1239 advanced, while 134 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was down 0.01% to 74.862.

Technical outlook

Nifty 4hr chart has formed "Rising wedge" pattern. Although the Nifty has seen corrections but has managed to stay above strong support. Technically the upside trend remains intact, we expect to see a gap up today. The market is expected to continue on bullish momentum based on the current price action, once the same break above the stiff resistance level holding near 18200. The upside rally could be testing all the way up to 18350-18500 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the Key support holds near 18050. A slide to 17900-17750 is also a possibility if the price makes or break below the support level.

Technical outlook

Bank nifty 4hr chart has formed "Rising channel" pattern. Bank Nifty has bounced back to close at new high yet again, managed to stay above 40000 and closed in green. Although, upside remains possible. We expect to see a gap up today. The market is expected to continue on bullish based on the current price action, once the same break above the current new resistance holding near 40400. The upside rally could be testing up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely to retest the same and revise the trend to bearish/sideways mode once again. Strong support holds near 40000. A slide to 39700-39400 is also a possibility if the price makes or break below the support level.

Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading higher at 18268.80 +28.25 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 lost 0.48%, while the BSE Sensex 30 index lost 0.55%.

The biggest gainers of the session on the Nifty 50 were Kotak Mahindra Bank Ltd., which rose 6.37% or 128.30 points to trade at 2143.75 at the close. Tata Motors Ltd added 4.33% or 21.10 points to end at 508.00 and Grasim Industries Ltd was up 3.52% or 59.50 points to 1752.00 in late trade.

Biggest losers included Asian Paints Ltd., which lost 5.29% or 167.60 points to trade at 3002.00 in late trade. Hindalco Industries Ltd. declined 3.74% or 19.20 points to end at 493.75 and Reliance Industries Ltd shed 2.88% or 77.90 points to 2622.50.

The breadth, indicating the overall health of the market, 1586 fell and 1529 advanced, while 128 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.04% to 74.823.

Technical outlook

Nifty 4hr chart has formed "Rising wedge" pattern. Although the Nifty has seen corrections but has managed to stay above strong support. Technically the upside trend remains intact, we expect to see a gap up today. The market is expected to continue on bullish momentum based on the current price action, once the same break above the stiff resistance level holding near 18250. The upside rally could be testing all the way up to 18400-18550 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the Key support holds near 18050. A slide to 17900-17750 is also a possibility if the price makes or break below the support level.

Technical outlook

Bank nifty 4hr chart has formed "Rising channel" pattern. Bank Nifty has bounced back to close at new high, managed to stay above 39400 and closed in strong green. Although, upside remains possible. We expect to see a gap up today. The market is expected to continue on bullish based on the current price action, once the same break above the current new resistance holding near 40200. The upside rally could be testing up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely to retest the same and revise the trend to bearish/sideways mode once again. Strong support holds near 39500. A slide to 39200 is also a possibility if the price makes or break below the support level.

Pre-Market Thursday! Asian market positive trading, Nifty50 on the SGX were trading higher at 18356 +36 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 declined 0.83%, while the BSE Sensex 30 index fell 0.74%.

The biggest gainers of the session on the Nifty 50 were Bharti Airtel Ltd., which rose 4.02% or 27.35 points to trade at 708.45 at the close. State Bank of India added 2.40% or 11.70 points to end at 499.90 and Tata Motors Ltd was up 1.04% or 5.00 points to 486.90 in late trade.

Biggest losers included Hindalco Industries Ltd., which lost 3.90% or 20.80 points to trade at 512.95 in late trade. Titan Company Ltd declined 2.96% or 73.50 points to end at 2411.40 and Hindustan Unilever Ltd. shed 2.68% or 68.15 points to 2478.65.

The breadth, indicating the overall health of the market, 2217 fell and 915 advanced, while 113 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was down 0.31% to 74.871.

Technical outlook

Nifty 4hr chart has formed "Rising wedge" pattern. Although the Nifty has seen some more profit booking, it has managed to stay above strong support. Technically the upside trend remains intact, we expect to see a gap up today. The market is expected to continue on bullish momentum based on the current price action, once the same break above the stiff resistance level holding near 18450. The upside rally could be testing all the way up to 18600 & furthermore new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the Key support holds near 18200. A slide to 18050-17900 is also a possibility if the price makes or break below the support level.

Technical outlook

Bank nifty 4hr chart has formed "Rising channel" pattern. Bank Nifty traded sideways, has managed to stay above 39400 and closed in slight red. Although, upside remains possible. We expect to see a gap up today. The market is expected to continue on bullish based on the current price action, once the same break above the current new resistance holding near 39700. The upside rally could be testing up to 40000 & furthermore new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely to retest the same and revise the trend to bearish/sideways mode once again. Strong support holds near 39400. A slide to 39100-38800 is also a possibility if the price makes or break below the support level.

Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 18442.80 +5.70 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 declined 0.32%, while the BSE Sensex 30 index declined 0.08%.

The biggest gainers of the session on the Nifty 50 were Tech Mahindra Ltd, which rose 4.24% or 62.80 points to trade at 1542.45 at the close. Larsen & Toubro Ltd added 3.22% or 57.60 points to end at 1846.05 and Infosys Ltd was up 1.67% or 30.00 points to 1822.15 in late trade.

Biggest losers included ITC Ltd, which lost 6.32% or 16.60 points to trade at 245.95 in late trade. Tata Motors Ltd declined 4.95% or 25.20 points to end at 484.40 and Eicher Motors Ltd. shed 4.34% or 122.65 points to 2703.70.

The breadth, indicating the overall health of the market, 2274 fell and 907 advanced, while 112 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was down 0.20% to 75.037.

Technical outlook

Nifty 4hr chart has formed "Rising wedge" pattern. Nifty has closed in green, traded higher reaching 18600 mark, a new historical high. Technically the upside trend remains intact, we expect to see a correction today. The market is expected to continue on bullish momentum based on the current price action, once the same break above the stiff resistance level holding near 18600. The upside rally could be testing all the way up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the Key support holds near 18350. A slide to 18200-18050 is also a possibility if the price makes or break below the support level.

Technical outlook

Bank nifty 4hr chart has formed "Rising channel" pattern. Bank Nifty traded higher, reaching 40000 mark and closed in slight red. Although, upside remains possible. We expect to see a correction today. The market is expected to continue on bullish based on the current price action, once the same break above the current new resistance holding near 40000. The upside rally could be testing up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely to retest the same and revise the trend to bearish/sideways mode once again. Strong support holds near 39400. A slide to 39100-38800 is also a possibility if the price makes or break below the support level.

Pre-Market Tuesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 18568.50 +80.60 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 gained 0.76% to hit a new all-time high, while the BSE Sensex 30 index climbed 0.75%.

The biggest gainers of the session on the Nifty 50 were Hindalco Industries Ltd., which rose 5.24% or 27.05 points to trade at 543.15 at the close. Infosys Ltd added 4.45% or 76.40 points to end at 1792.15 and Tech Mahindra Ltd was up 3.41% or 48.85 points to 1479.65 in late trade.

Biggest losers included HCL Technologies Ltd, which lost 2.38% or 29.75 points to trade at 1221.40 in late trade. Mahindra & Mahindra Ltd. declined 2.20% or 20.45 points to end at 910.95 and Asian Paints Ltd. shed 1.71% or 56.30 points to 3241.50.

The breadth, indicating the overall health of the market, 1702 rose and 1562 declined, while 154 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.44% to 75.345.

Technical outlook

Nifty daily chart has formed "Rising wedge" pattern. Nifty has closed in green, traded higher reaching a new historical high yet again. Technically the upside trend remains intact, we expect to see a gap up today. The market is expected to continue on bullish momentum based on the current price action, once the same break above the stiff resistance level holding near 18550. The upside rally could be testing all the way up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance, then it might retest the same and revise the trend to bearish/sideways mode once again as long as the Key support holds near 18350. A slide to 18200-18050 is also a possibility if the price makes or break below the support level.

Technical outlook

Bank nifty daily chart has formed "Rising channel" pattern. Bank Nifty traded higher, reaching a new historical high yet again and closed in green. Upside remains possible. We expect again to see a gap up today. The market is expected to continue on bullish based on the current price action, once the same break above the current resistance holding near 39800. The upside rally could be testing up to whole new levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then the prices would most likely to retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 39400. A slide to 39100-38800 is also a possibility if the price makes or break below the support level.