TODAY’S MARKET COMMENTARY UPDATE

12mmfter gap down opening Indian equity benchmark indices is in consolidation phase after the S&P reaffirmed India rating and weak Asian market. After opening of European market found some momentum and Late recovery helps Indian market indices to close in green for 8th consecutive session which is led by banking and financial sector as sensex closed with a gain of 45.20 at 33724.44 and Nifty future closed with a gain of 9.15 at 10418.50. Nifty midcap rose half a percent to end at record high.

Looses were only seen in Nifty metals and FMCG sector both indices down by 0.69% and 0.25%, rest of the indices end with little gain in which Nifty Media closes with gain of 2.19%.

Ntpc, Axis Bank and Zee Ent were the top gainers today and Hpcl, Adani Ports and Infosys were the top losers.

Market is looking in consolidation to bullish trend for Tuesday session as well as Nifty future and Bank Nifty future both closes above its resistance level and also technical indicator shows bullish trend is not over yet. As we had seen from 17 Nov Nifty future is moving in particular channel and to continue its bull run it has to break channel resistance level of 10440-10450 which is very crucial and bank nifty future crosses its hurdle of 25890-25920 level today and closes at 25938.80, which had been strong resistance zone. Federal reserve will be in focus for U.S monetary policy this week as investors will look for fresh clues for market trend ahead.

Trading strategy for Tuesday will be buy on dips as market trend is looking consolidate to bullish but major resistance level will be 10450 for Nifty.

Support of Nifty future is placed at 10330 and 10265.

Resistance of Nifty future is placed at 10430 and 10530.

Support of Bank Nifty future is placed at 25880 and 25650.

Resistance of Bank Nifty future is placed at 26010 and 26140.

MARKET COMMENTARY AS ON 24th NOV

After four consecutive range bound trading session finally investors gets some relief from the market on the last day of the week as sensex closed with a gain of 91.16 at 33679.24 and Nifty future closed with a gain of 50.85 at 10417.50 market breadth was positive this time as 1506 shares advanced against a decline of 1227 shares and 154 shares were unchanged.

marLooses were only seen in PSU banks and metal sector both indices down by 0.57%, rest of the indices end with little gain in which Nifty pharma closes with gain of 0.77 followed by Nifty FMCG with a gain of 0.72%

Auro pharma, Indusind Bank and Infosys was the top gainers today and Idea, Hindalco and Vedanta was the top losers.

Nifty future weekly closing showed some positive sign for next week as nifty breaks its crucial resistance level of 10390 and sustain above it, whereas Bank nifty future main hurdle is to cross 25890-25920 level, which is been strong resistance zone, Market trend is looking positive for Monday and  trading strategy for Monday will be buy on dips as market trend may be consolidate to bullish till market breakdown last week Friday gap area.

RESISTANCE & SUPPORT LEVELS -:

Support of Nifty future is placed at 10380 and 10265.

Resistance of Nifty future is placed at 10490 and 10570.

Support of Bank Nifty future is placed at 25650 and 25550.

Resistance of Bank Nifty future is placed at 25920 and 26010.

MARKET OVERVIEW

Another range bound session of Indian benchmark indices had once again closes on a positive note and also continue its sideways movement on Thursday as well. There is no clear trend where market is heading towards. Both Nifty and Nifty Bank are in the sideways movement whereas market breadth was positive this time as 1442 shares advanced against a decline of 1255 shares. Nifty future closes with gain of 12.15 points at 10370.10 and sensex closes with a gain of 26.53 points at 33588.08.
Nifty IT ended the session on positive note ended with gain of 1.02% and Nifty PSU bank closes with a loss of 0.36%
Infosys, Sun pharma, Reliance are the top gainers today and Idea, Dr Reddy Labs and Adani ports are the top losers.
After 3 consecutive range bound session the only thing which is positive is Nifty closing, which is continuously positive and last 3 day high of Nifty future is around 10389 which is now strong resistance level. Traders can enter in Nifty future above the breakout of 10390 and in bank nifty future above 25850. As we said last Friday gap area is still considered strong support zone in near term.
Trading strategy for Friday will be buy on dips as market trend may be consolidate to bullish till market breakdown the gap area. 
RESISTANCE & SUPPORT LEVELS –
Support of Nifty future is placed at 10310 and 10265.
Resistance of Nifty future is placed at 10390 and 10510.
Support of Bank Nifty future is placed at 257650 and 25550.
Resistance of Bank Nifty future is placed at 25850 and 26010.
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Market Commentary as on 21-Nov.-2017

Indian benchmark indices ended the session12mm on a positive note. Nifty future closes with gain of 31.15 points at 10351.90 and sensex closes with a gain of 118.45 points at 33478.35. After gap up opening market was in consolidation phase and after 2 pm Indian indices started falling tracking weakness in European stocks due to German political uncertainty.

 

Nifty pharma ended the session with gain of 2.22% followed by Nifty media closes with 0.87% gain and Nifty reality closes with a gain of 1.14%

DR Reddys, Sun pharma and Tech Mahindra are the top gainers today and Coal India, ITC and Ambuja Cements are the top losers.

Nifty is in sideways movement and weakness in European stocks due to political uncertainty can further drive market in downside. Although Bank Nifty has been an outperformer during last week but we have seen stock specific movement within banking stocks. Traders are advised to follow stock specific movements and for index Last Week Friday gap area is considered strong support zone in near term.

Trading strategy for Wednesday will be buy on dips as market trend may be consolidate to bullish till market breakdown the gap area.

Support Of Nifty Future is placed at 10310 and 10265.

Resistance Of Nifty Future is placed at 10390 and 10510.

Support Of Bank Nifty Future is placed at 25740 and 25550.

Resistance Of Bank Nifty Future is placed at 25940 and 26010.

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EQUITY REPORT AS ON 18th NOV

MARKET HIGHLIGHTS

Nifty ended 10283.60 UP 68.80 and Sensex 33342.80 UP 235.98 points

Moody’s upgrades India’s government bond rating to Baa2 from Baa3; changes outlook to stable from positive

Foreign exchange earnings from tourism up by Rs 2,254 crore in October

Infosys Rs 13,000 crore buyback to open on November 30

Eris Lifesciences buys Strides Shasun’s India branded business for Rs 500 crore

ITAT grants relief to Tata Industries; deletes cap gains addition of Rs 1 lakh crore

Reliance General inks bancassurance agreement with YES Bank

NIFTY DAILY

niftydaily

BANK NIFTY DAILY

banknifty

MARKET PERFORMANCE

NIFTY GAINERS            

COMPANY NAME CURRENT PREV. CLOSE(RS) CHANG.(RS) CHAG.(%)
HDFC 1702.20 1664.40 37.80 2.27
CIPLA 605.75 592.85 12.90 2.18
MARUTI 8337.00 8163.70 173.30 2.12
TATAMOTORS 421.70 413.45 8.25 2.00
ICICIBANK 324.55 318.95 5.60 1.76

NIFTY LOSERS        

COMPANY NAME CURRENT PREV. CLOSE(RS) CHANG.(RS) CHAG.(%)
TECHM 484.00 499.90 -15.90 -3.18
INFY 965.50 988.40 -22.90 -2.32
BOSCHLTD 18962.00 19258.45 -296.45 -1.54
TCS 2708.20 2746.65 -38.45 -1.40
HCLTECH 840.20 851.90 -11.70 -1.37

NSE STATS              

ADVANCES 28
DECLINES 21
UNCHANGED 01

FII TRADING ACTIVITY (NSE & BSE) In Crores

CATEGORY DATE BUY VALUE SELL VALUE NET VALUE
FII/FPI 17-NOV-17 6715.94 5439.32 1276.62

DII TRADING ACTIVITY (NSE & BSE) In Crores 

CATEGORY DATE BUY VALUE SELL VALUE NET VALUE
DII 17-NOV-17 4377.74 2910.8 1466.94

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