16062020
Nifty
6/16/2020 7:42:00 AM
Pre-Market Tuesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 9987.25 +170.20 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 fell 1.60%, while the BSE Sensex 30 index declined 1.63%.
The biggest gainers of the session on the Nifty 50 were GAIL Ltd, which rose 3.68% or 3.55 points to trade at 99.90 at the close. Wipro Ltd added 2.60% or 5.40 points to end at 213.30 and HCL Technologies Ltd was up 1.49% or 8.50 points to 579.25 in late trade.
Biggest losers included IndusInd Bank Ltd., which lost 7.20% or 38.05 points to trade at 490.40 in late trade. AXIS Bank Ltd declined 4.49% or 18.30 points to end at 389.70 and Tata Motors Ltd shed 4.42% or 4.65 points to 100.65.
The breadth, indicating the overall health of the market, 1263 rose and 1163 declined, while 161 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.09% to 76.100.
Technical outlook
Nifty fut daily chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways momentum inside the channel. The market is expected to continue on bearish momentum based on current price action, testing up to 9540 levels in the upcoming sessions. Alternatively, if the market opens on gap up based on SGX data breaking above a key resistance holding near 9950, then it might revise the trend to bullish/sideways mode. Key support holds at 9540.
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