18th April : Two mins Nifty wrap up for the day

A daily wrap up on the market, which will keep you updated on what happened in the day and what to expect for the next trading session

Despite a breach of 5305 the positive efforts could not be maintained.

Nifty opened positive but gave back some of its gains to conclude the day with a gain of 10 points at 5300. Amongst the sectoral indices the BSE Auto and HC indices were the outperformers whereas BSE Realty index lost the most.

Nifty opened positive and surpassed the resistance of 5305, however profit booking dragged it down and finally it concluded the day with a gain of mere 10 points at 5300.The inverted hammer formed on the daily chart is not a very optimistic sign.

However, in tomorrow’s session if the positive efforts are maintained then we may see it test the level of 5380 to 5400. Now the level of 5220 is an important support for Nifty. As long as it trades above this level we can hope for an upside till 5380 to 5400 in coming days. In an alternate scenario, If Nifty breaches the level of 5220 then we may see further decline till 5180.


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