Thursday Market Commentary & Share Market Update 25th-Jan-2018

Indian Equity benchmark indices continued its consolidate phase from yesterday trade as today market was open flat along with Asian shares who were traded mixed today morning. For the major part of the day indices were traded in down trend, and in the later part Indian indices recover its losses before expiry of future and option contract.

The Nifty PSU bank index has taken the biggest hit among all, falling over 5 percent, led by a fall in State Bank of India. The stock is down by more than 5 percent as well, followed by reality sector which was down by 1.76% today. PVT sectors banks were traded in green today indices gain by 1.04% at the end of the day.

Today Sensex closed with a loss of 111.20 points at 36050.44, Nifty future closed with a loss of 12.60 at 11070.60 and Bank nifty future closes with a gain of 22.25 points at 27449.00.

ICICI Bank, Gail and Ultra Tech Cement were top Nifty 50 gainers today and UPL, SBI and Auro Pharma were top losers today.

Indian indices are expected to trade in consolidate phase before presentation of Union Budget of 1st FEB. Still Nifty future holds crucial resistance of 11130 and any big movement will be based on fundamental news till Budget. We expect market to trade in sideways movement which gives traders an opportunity to earn on both sides of the market. Nifty future is facing trend line resistance at current levels on weekly chart and Bank nifty future trend line resistance is around 27670-27750. So we can expect future movement of 200 points in Bank nifty future. We again advise our readers to remain caution in Index and strategy For Monday market will be buying on dips and sell on high and individual stocks is expected to volatile as they were before.

RESISTANCE & SUPPORT LEVELS -:

Support of Nifty future is placed at 11010 and 10880.

Resistance of Nifty future is placed at 11130 and 11190          .

Support of Bank Nifty future is placed at 27180 and 26950

Resistance of Bank Nifty future is placed at 27530 and 27750.

Fore More Information About Market & Stock Click Here  http://www.marketmagnify.com/services.php

Give a Miss Call 7879881122

Leave a Reply

Your email address will not be published. Required fields are marked *