Two mins Nifty 50 wrap of the day

7th November: 2 mins Nifty50 wrap up of the day

NIFTY GAPS-UP on easing of RISK-OFF. Fails to sustain above the 8500 mark – as broader markets show a dead cat bounce .…

• The NIFTY opened around the 8535.75, GAP-UP by around 100 points over last Friday. The weekend news flow on US presidential elections soothed the nerves as RISK-OFF switched in. However the very fact that NIFTY HIGH was created within the opening minutes of trade indicate the FLUIDITY in the markets. The markets largely traded in a tight 40 point range till last half an hour, when NIFTY saw profit booking setting in & dragging it down below the 8500 mark. To shut shop, NIFTY closed @ 8497.05 DOWN by 63.30 points or 0.75%.
• The NIFTY has now clawed back a bit, above the immediate SUPPORT level of 8500-8480, on a closing basis. However the fact that it has failed to sustain above the 8500 mark, as also closed near the day low; makes it vulnerable to the FLUIDITY of the market (Refer to the LIGHTNESS in positions in the market). This now brings us to rates between July 8th to July 12th ; when the market was in an optimistic tranche on the advent of MONSOON. So lies the hitch where the supports stand scattered @ 8380 – 8320 in that order. This may even open up the gates till the level of 8088 (200 DMA). The medium term picture may DIP from current SIDEWAYS to BEARISH with a DROP below the 8420 mark (although violated on intraday basis, but held on closing basis). The BULLS can be considered coming back in force only above the 8650 mark; though the path may be difficult around the 8550-8620 mark (the earlier supports).

 

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Nifty50 wrap of the day

NIFTY creates fresh 4 month closing LOWS – as broader markets give way a big way. 8450 on NIFTY stands violated .…

  • The NIFTY opened around the 8500 mark @ 8503.60, marginally UP by around 20 points over Thursday. It was expected that the NIFTY would show some respite from near the crucial SUPPORT zone of 8480-8500; however the very fact that the day HIGH was created within the opening minutes shows the WEAKNESS in the system. Drifting down from beginning, to almost the 8400 mark, the NIFTY showed a dead cat bounce towards the end, given the weekend clearances, the NIFTY shut shop @ 8433.75 DOWN 51.20 points or 0.6%.
  • The NIFTY has now cracked below the immediate SUPPORT level of 8500-8480, on a closing basis. This now brings us to rates between July 8th to July 12th ; when the market was in an optimistic tranche on the advent of MONSOON. So lies the hitch where the supports stand scattered @ 8380 – 8320 in that order. This may even open up the gates till the level of 8088 (200 DMA). The medium term picture may DIP from current SIDEWAYS to BEARISH with a DROP below the 8420 mark (although violated on intraday basis, but held on closing basis). The BULLS can be considered coming back in force only above the 8680 mark; though the path may be difficult around the 8550-8500 mark (the earlier supports).

nifty50 view

3rd Nov 2016 Nifty view : key highlights

NIFTY creates fresh 3 month closing LOWS – lowest since 21.7.2016; stock specific movement still remains flavor of the day. 8480-8500 crucial for overall health …  The NIFTY opened @ 8542.80, GAP-DOWN by around 83 points over Tuesday. Without much doubt it was a full RED day, as NIFTY on the intraday patch still walleted in a tight 45 point range defined by the 8504.85 & 8549.50 (very close to the earlier support of 8550, now turned resistance). The NIFTY shut shop @ 8514.00 DOWN by 112.25 points or 1.3%. This a new 3 month closing LOW, last visited only on 21.7.2016.  The broader indices moved in tandem with the benchmark NIFTY. While the NIFTY MID100 FREE closed DOWN by 2.1% @ 15787.20; the NIFTY SML100 FREE closed DOWN by 1.92% @ 6376.60. The advance decline, in line with the broader indices; remained pegged on the BEAR side, as it stood at 378 advances to 1311 declines. The India VIX shot up a massive 6.75%, to close near the 16.80 mark.  All the sectoral indices, without any exception traded in the RED. The NIFTY PSU BANKS & NIFTY REALTY, mainly the rate sensitives took a cut of almost 3%. On the other hand the NIFTY FMCG & NIFTY METALS were spared the hardships, as they closed down a shade short of the one percent mark.  We now stand at the fag end of the SUPPORT band between 8550-8500. Price-Wise, the momentum seems to once again shift in favor of the BEARS as we stand too close to the level of 8500, and if it gets breached on closing basis, the gates to 8420 may open UP. The medium term picture may DIP from current SIDEWAYS to BEARISH with a DROP below the 8420 mark, that may open UP even till the level of 8083 (200 DMA).On the other hand, the BULLS have last hope only above closing level of 8740 (an extension of the 8680-8720 mark).

Nifty two mins wrap

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

1st November: 2 mins Nifty wrap up of the day by GEPL CAPITAL

NIFTY remains little changed, once again above the 8600 mark; even as stock specific movement is flavor of the day. 8680-8720 on the upside still elusive …  The NIFTY opened @ 8653.15, marginally UP by around 10 points over the Muhurat day, Sunday. The first hour & half saw NIFTY drifting down to test the SUPPORTS @ 8600, though this time they respected it. The market moved UP in a steady recline till 2 PM as it targeted the 8680 mark (day HIGH 8669). However the boat failed to sail through as once again the NIFTY created day’s LOW around the 8615 mark, before shutting shop little changed @ 8626.25 UP by 0.55 points or 0.01%.  The statistics that the market is providing is largely inconclusive. After having a take at the barrier of 8680-8720, the NIFTY has faltered and lost ground multiple number of times. That brings the SUPPORT of 8550-8500 on the anvil. Price-Wise, the momentum may once again shift in favor of the BEARS if the level of 8500 is breached in next few days. On the other hand, 8740 (an extension of the 8680-8720 mark) stands as a major hurdle in the short term. The medium term picture may DIP from current SIDEWAYS to BEARISH with a DROP below the 8420 mark. News Wrap of the day  Sensex, Nifty off day’s high; Axis Bank, ICICI under pressure Equity benchmarks came off day’s high in last hour of trade following correction in European peers. Axis Bank fell more than 2 percent and ICICI Bank turned lower.  Manufacturing activity growth at 22-month high. PMI rises to 54.4 in October from 52.1 in September, indicating robust improvement in manufacturing business conditions  BGR Energy gets Rs 2,600-crore project for 800 Mw pant in TN. With this order, the company’s order book at present stands at around Rs 7,429 crore  Maruti Suzuki sales decline marginally in October. Exports during the month declined by 23.7% to 10,029 units as compared to 13,146 units in October last year  S Ramadorai resigns from NSDA, likely to head Tata Sons: Report. Ramadorai is also the Chairman of Tata Institute of Social Sciences, AirAsia India and BSE

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