17062020
Nifty
6/17/2020 7:45:00 AM
Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 9879.50 +49 points on indicating gap up opening for the NSE.
At the close in NSE, the Nifty 50 gained 1.02%, while the BSE Sensex 30 index added 1.13%.
The biggest gainers of the session on the Nifty 50 were HDFC Bank Ltd, which rose 4.14% or 39.30 points to trade at 989.15 at the close. Housing Development Finance Corporation Ltd added 3.90% or 68.35 points to end at 1820.00 and ICICI Bank Ltd was up 3.41% or 11.30 points to 342.40 in late trade.
Biggest losers included Tata Motors Ltd, which lost 5.87% or 5.90 points to trade at 94.60 in late trade. Bharti Infratel Ltd declined 2.92% or 6.50 points to end at 216.40 and IndusInd Bank Ltd. shed 2.78% or 13.65 points to 476.90.
The breadth, indicating the overall health of the market, 1300 fell and 1138 advanced, while 143 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.20% to 76.106.
Technical outlook
Nifty fut 2hr chart has formed "Rising channel" pattern. The last few sessions ended up in sideways momentum after bouncing back from the channel’s Support line. The market is expected to continue on bullish momentum based on current SGX data, once break above a stiff resistance area near 10000. The upside rally could be testing up to 10300 levels in the upcoming sessions. Alternatively, if the market struggles to break above resistance area, then it might continue the trend in bearish/sideways mode. Key support holds at 9540.
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