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 Strength in the market continuous and we have seen the market trade and settle above 11200.
- The important resistance level for the market still continues to be the range of 11300-11350.
- RIL (high of 2070+ for the day). If there ever was an example, where one stock could turn the tide in favour of Bulls.
- As expected, the market had a see-saw battle between bulls and bears, with bears putting early pressure and then bulls bouncing back
- All the sectors ended the day in Green (apart from IT) and which augers well for the Nifty
- Now, the levels of 11000 becomes a very strong intermediate support for the market.
- Today’s strong expiry paves way for the coming monthly Futures and Options expiry.
- And the range of 11000-11500 becomes to watch out for coming week and expiry.
- Bank Nifty has managed hold the fort and closed above the important level of 22500 and now that becomes an important intermediate support for the market.
- Markets started the day in Green with SGX Nifty Trading in “Green” at the beginning of session
The Sensex Opened at 37814.47 and closed at 38140.47 The high for the day way 38225.03 and the low for the day was 37738.59 . Sensex gained 0.71% for the day
Nifty Opened at 11135.00 , the high for the day was 11239.80, and the low for the day was 11103.15 . Nifty closed at 11214.45 . Nifty lost 0.74% for the day
Bank Nifty Opened at 22854.85 , the high for the day was 23122.35, and the low for the day was 22734.90 . Bank Nifty closed at 23083.90. Bank Nifty gained 0.88% for the day
Top Gainers & Losers:
The Sector for the day: Nifty Auto (up 1.35%), Nifty Pharma (u 1.44%) & Nifty Realty (up nearly 1.41%). Most of the sectors ended the day in Green
The market Ended at the day in Green, and the breadth was firmly in favour of bulls (37 advances, 12 declines and 1 unchanged for the day in Nifty 50)
The Top 5 gainers (Nifty 50) for the day were- Eicher motors, ICICI Bank, Reliance, Tech Mahindra, SBIIN
The Top 5 losers (Nifty 50) for the day were – Axis Bank, Shree Cement, Hindustan Unilever, TCS, Infosys
FII & DII data:
The Net FII buying for the day was 1740.50cr . The Net DII selling was -931.91cr.
Views for tomorrow:
The Sector to watch out for tomorrow are Banks, Pharma and Auto. And special mention for RIL (Broke all time high)
The important support for Nifty now is 11000. The marker has managed to settle above the all-important level of 11200 and with target of 11350 in sights
s* In Nifty, the levels to watch out will be 11000 on downside and 11300-11400 on the upside.
- For Bank Nifty, the important levels to watch out on upside are 23400. The important supports are at 22000.
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