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 did start on a very positive note with India imposing ban on 59 Chinese apps and market looked all set to breach 10400 and make a decisive move
- But once again the technicals took over and 10400 is proving to be a difficult fortress to breach
- The Market stuck in still in a tighter range between 10200 and 10400. And breach on either side is important to have a cleared view on the market
- Market ended nearly at unch, with Nifty Auto leading the way
- Markets started on a positive note for the day with SGX Nifty Trading in Green at the beginning of session.
- The Sensex Opened at 35168.30 and closed at 34915.80 . The high for the day way 35233.91 and the low for the day was 34812.80 . Sensex lost - 0.13% for the day
- Nifty Opened at 10382.60 , the high for the day was 10401.05 and the low for the day was 10267.35 . Nifty closed at 10302.10 . Nifty lost - 0.10% for the day
- Bank Nifty Opened at 21524.30 , the high for the day was 21650.50 and the low for the day was 2212.0 . Bank Nifty closed at 21370.15 . Bank Nifty gained 0.05% for the day
Top Gainers & Losers:
- The Sector for the day: Nifty Auto, gained 1.10% for the day. All Auto majors like Bosch, MRF, Maruti ended in Green. Nifty Media, Nifty Pharma and Nifty PSU banks were the biggest losers of the day
- The Top 5 gainers (Nifty 50) for the day were- Shree Cement, Maruti, ICICI Bank, Nestle India, Britannia
- The Top 5 losers (Nifty 50) for the day were – BPCL, PowerGrid, Sun Pharma, GAIL, IOC
FII & DII data:
The Net FII selling for the day was -2008.08 cr. The Net DII buying was 2051.31 crores.
Views for tomorrow:
- The Market started on a positive note and almost gained 1% in the first half of the session. The major impetus for the market came from Nifty Auto. Nifty Media, Nifty Pharma, Nifty PSU were biggest loesers of the day.
- The Market did take a shot at 10400 but again sellers took over and market ended where it started
- The market is yet to trade comfortably above the decisive resistance of 10400.
- 10200-10400 is the range to watch out. Decisive break could mean 3-4 % move.
- The daily MACD charts have got a bearish crossover for Nifty. Break of 10250 could prove to be the vital point for this weekly expiry.
- For Nifty, the important levels are 10400 and 10200.
- For Bank Nifty the levels to watch out are 21700 (upside) and 21100 (downside)
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