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2 mins Nifty Wrap

Technology 01 April 2020 5:10:PM

NIFTY ends the session near the 3 Day low.

Highlights

 

  • Nifty and SENSEX moved in sync and ended the session with around 4% cut, BANK NIFTY ended with a slightly deeper cut of (-4.9%).
  • The RSI (34.8) plotted on the daily chart of NIFTY has formed a bearish hinge, and making a move towards the support level of the consolidation, indicating the presence of bearishness in the prices
  • All the sectoral indices ended the session in the RED. The fall was led by NIFTY IT, NIFTY PVT BANK and NIFTY FINSERV that ended the session with a loss of (-5.48%), (-4.86%) and (-3.97%).
  • On the stocks front the NIFTY Heavy weight like HEROMOTOCO (2.48%), BAJAJAUTO (1.02%), BAJFINANCE (1.02%) were the highest gainers and ended the session in the green.
  • TECHM, KOTAKBANK and AXISBANK were the losers and ended the session with a loss of (-9.40%), (-8.68%) and (-6.20%) respectively.

Technical

Ø NIFTY SPOT: 8253.80 (-4.00%)

Ø DYNAMIC PARAMETER: Nifty formed Lower Top Lower Bottom formation.

Ø TRADING ZONE:

Resistance: 8588.10 (Day’s high)/ 8678.80 (previous session high).

Support: 8198.35 (Day’s Low), 8036.95 (24th march high)

Ø BROADER MARKETS: OUTPERFORMED, MIDCAP 11460.70 (-2.08%), SMALLCAP 3538.00 (-1.58%), Advance-Decline: 937/822

Ø STRATEGY: Bearish till below 9038 (27th march high).

 

About The Author

Research Team

GEPL Capital Private Limited operates as a brokerage firm. The Company buys and sells equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate fixed deposits, as well as provides online trading platform. GEPL capital serves customers in India.