MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here: https://t.me/MarketViewTB
Market Views for the Day:
- The market started on a very positive note with renewed strength in Banks, Energy and FMCG sector
- The Important technical resistance of 10400 is being challenged and market managed to close near the highs of the day
- The market is going to be action packed tomorrow with weekly options expiry scheduled for tomorrow
- The overall breadth of the market has been very good with most of the sectors ending in Green
- Markets started on a positive note for the day with SGX Nifty Trading in Green at the beginning of session.
- The Sensex Opened at 35009.59 and closed at 35414.45 . The high for the day way 35467.23 and the low for the day was 34927.20 . Sensex gained 1.43% for the day
- Nifty Opened at 10323.80 , the high for the day was 10447.45 and the low for the day was 10299.60 . Nifty closed at 10430.05 . Nifty gained 1.24% for the day
- Bank Nifty Opened at 21354.10 , the high for the day was 22061.60 and the low for the day was 21281.85 . Bank Nifty closed at 21977.60 . Bank Nifty gained 2.84% for the day
Top Gainers & Losers:
- The Sector for the day: Nifty Bank (up 2.84%) and Nifty Financial Services (up 2.66%). All Auto majors Banks like Axis Bank, PNB, SBI, ICICI gained for the day. Nifty Pharma was the biggest loser of the day
- The Top 5 gainers (Nifty 50) for the day were- Axis Bank, UPL, Bajajfinsv, HDFC, ITC
- The Top 5 losers (Nifty 50) for the day were – NTPC, NestleIndia, LT, Shree Cement, CIPLA
FII & DII data:
The Net FII selling for the day was -1696.45 cr . The Net DII buying was 1377.13 cr .
Views for tomorrow:
- The Market started on a positive note and almost gained 1.24% by the end of the day. The major impetus for the market came from Bank Nifty and Financial services.
- The Market did try to make a move down but the persistent buying kept the market strong and the market has been able to spend substantial amount of time above 10400
- And do expect a lot of volatility tomorrow as its weekly Options expiry.
- With market closing above 10400, the gate to 10550 opens up but with a stop loss below 10340.
- For Nifty, the important levels are 10550 and 10300.
- For Bank Nifty the levels to watch out are 22500 (upside) and 21500 (downside)
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