18062020
Nifty
6/18/2020 8:00:00 AM
Pre-Market Thursday! Asian market positive trading, Nifty50 on the SGX were trading lower at 9788.30 -61.85 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 fell 0.33%, while the BSE Sensex 30 index declined 0.29%.
The biggest gainers of the session on the Nifty 50 were Maruti Suzuki India Ltd., which rose 4.05% or 222.80 points to trade at 5725.00 at the close. Bharti Airtel Ltd. added 3.41% or 18.60 points to end at 563.50 and Wipro Ltd was up 2.45% or 5.20 points to 217.60 in late trade.
Biggest losers included Bharti Infratel Ltd, which lost 4.49% or 9.70 points to trade at 206.30 in late trade. Kotak Mahindra Bank Ltd. declined 2.29% or 29.30 points to end at 1247.50 and ITC Ltd shed 2.19% or 4.05 points to 180.95.
The breadth, indicating the overall health of the market, 1369 rose and 1068 declined, while 143 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was down 0.12% to 76.151.
Technical outlook
Nifty fut 4hr chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways near a stiff resistance that is been holding up near 10000. The market is expected to continue on bearish momentum based on current SGX data. The downside rally could be testing up to 9540 levels in the upcoming sessions. Alternatively, if the market breaks above the stiff resistance area, then it might revise the trend to bullish mode. Key support holds at 9540.
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