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2 mins Nifty Wrap

Economics 17 January 2020 4:39:PM

NIFTY hits record HIGHs & also creates Closing HIGHs on weekly basis….

Highlights

 

  • NIFTY formed an Inside Day Candle.
  • Nifty and Sensex ended the session on the flattish note, but Bank Nifty ended with Lower Top Lower Bottom.
  • NIFTY ADX line (16.65) placed below 25 level, implying that Nifty might move in a range in the coming sessions.
  • On the sector front PVT BANKS (-0.80%) followed by METALS (-0.70%) were the highest losers and ended the session in the Red.
  • On the stock front INFRATEL was the highest loser and ended the session with a loss of 11.13%.
  • BHARTIARTL outperformed the index and rallied 5.47% and ended the session in the green.

 

Technical

Ø NIFTY SPOT: 12352.35 (-0.03%)

Ø DYNAMIC PARAMETER: Nifty ends the week with a gain of 0.78%

Ø TRADING ZONE:

Resistance: 12389.05 (lifetime high)/ 12500 (123.6% extension of the up move from 11832 to 12293.90)

Support: 12315 (previous session low), 12225 (20 Day SMA)

Ø BROADER MARKETS: OUTPERFORMED, MIDCAP 18073.90 (0.49%), SMALLCAP 6288.10 (0.27%), Advance-Decline: 927/864

Ø STRATEGY: bullish till above 12225 (20 Day SMA)

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.