17 January 2020 4:39:PM
NIFTY hits record HIGHs & also creates Closing HIGHs on weekly basis….
- 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.
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)