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 is stuck in a tighter range between 10200 and 10400. And it’s a classic case of Nifty consolidating before making a major move.
- Market has however ended strong with IT sector proving to be the major catalyst for strength.
- Markets started on a Positive Note for the day with SGX Nifty Trading in Green at the beginning of session.
- The Sensex Opened at 35144.78 and closed at 35171.27 . The high for the day way 35254.88 and the low for the day was 34910.34 . Sensex gained 0.94% for the day
- Nifty Opened at 10378.90 , the high for the day was 10409.85 and the low for the day was 10311.25 . Nifty closed at 10383.00 . Nifty gained 0.91% for the day
- Bank Nifty Opened at 21735.05 , the high for the day was 21784.65 and the low for the day was 21320.10 . Bank Nifty closed at 21592.05 . Bank Nifty gained 0.40% for the day
Top Gainers & Losers:
- The Sector for the day: Nifty IT, gained 4.05% for the day. All IT majors like Infosys (6.81%), NIIT Tech (6.03%), TCS (3.75%) ended in Green
- The Top 5 gainers (Nifty 50) for the day were- Infosys, BPCL, TCS, IOC, IndusInd Bank
- The Top 5 losers (Nifty 50) for the day were – Bajaj Finance, ITC, InfraTel, Kotak Bank, TATA Motors
FII & DII data:
The Net FII selling for the day was -Rs 753.18 cr . The Net DII buying was Rs 1304.18 crores.
Views for tomorrow:
- The Market started on a positive note and ended the day almost with 1% gains. The major impetus for the market came from IT sector, it gained nearly 4% for the day. The overall breath of the market has been very good.
- The market has been able to defend the all-important level of 10200 and trading well above it. The Market is brewing for a big move.
- However, the market is yet to trade comfortably above the decisive resistance of 10400.
- For Nifty, 10300 become an important support for the day. If the market continues to trade above 10300, the recent highs of 10550 levels should be re-tested. Important levels on downside are 10200 and 10500 on upside
- For Bank Nifty, 21800 is a very crucial resistance. The important level on the downside are 21000 and 20500. If market sustains above 21400, then moves to near 22000 cannot be ruled out.
Disclaimer: The information contained here are for educational and informational purposes only. The stocks discussed are the research and personal views of the authors should ‘not’ be considered as any kind of buy, sell or any advisory/recommendation.
We have done our best to ensure that the information provided on this Website are accurate and provide valuable information. Regardless of anything to the contrary, we shall be held liable or responsible for any errors or omissions on this website or for any damage you may suffer as a result of failing to seek competent financial advice from a professional who is familiar with your situation