Commentary for Today’s Stock Market : 19th December
Equity benchmark indices opened on positive note and both Nifty future and Bank nifty future trading just above its 25 days simple moving average. Market was in bullish trend throughout the day and in the last one and a half hour market gained some momentum to close Nifty future 67.80 points up at 10472.15. The Sensex was up by 235.06 points at 33836.74.
The market breadth was positive as 1,862 shares advanced against a decline of 803 shares, while 160 shares were unchanged.
Speaking in the Rajya Sabha today Finance Minister Arun Jaitley said the government wants to bring petroleum and petroleum products under the ambit of GST and is awaiting the states’ response on the same.
All sectoral indices ended today session in on positive basis except IT sector sector which closed with a marginal loss of 0.66%. Reality sector gained most by 1.62 % and again followed by Metal sector sector which gained by 1.46%
Maruti Suzuki, Hero Moto and UPL were the top gainers today while HCL Tech, Infosys and Wipro were top losers.
Market is in bullish trend and will continue its bullish trend this week, Nifty future is currently trading near its all time high. Again this bull run is backed by high liquidity but we have to keep in mind that Christmas is underway and as we all know that all foreign market and majority of foreign investors will be on holiday and will also pull back some amount invested in Indian markets, market will be short of liquidity next week, so we like to suggest investors and traders to be in buying trend and use every dip in the market as an opportunity to buy at least for this week and trade with proper stop loss as market will continue its volatility on Wednesday as well and to do proper study before investing.
Resistance and Support Levels
Support of Nifty future is placed at 10385 and 10230.
Resistance of Nifty future is placed at 10530 and 10620.
Support of Bank Nifty future is placed at 25500 and 25080.
Resistance of Bank Nifty future is placed at 25800 and 26200.
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