15 January 2021 5:10:PM
NIFTY ends the week below the 14500 mark….
- The benchmark indices NIFTY and SENSEX ends the session on a bearish note with a loss of (-1.11%) and (-1.11%) respectively. The Bank Nifty moved in sync the indices and ended the session with a loss of (-0.84%).
- The RSI (70.83) plotted on the daily time frame can be seen moving lower after forming a bearish hinge near the overbought level, indicating towards the possibility of the bears taking control of the trend.
- On the sectoral front, all the sectoral indices ended the session in the red. The sectors leading the fall were NIFTY IT, NIFTY PSU BANKS and NIFTY REALTY
- TECHM, HCLTECH and WIPRO were the losers that ended the session with a loss of (-3.95%), (-3.72%) and (-3.63%) respectively.
- TATAMOTORS, BHARTIARTL and UPL were the outperformers and ended the session in the green with a gain of (6.65%), (3.95%) and (2.63%) respectively.
- NIFTY SPOT: 14433.70 (-1.11%)
- DYNAMIC PARAMETER: Nifty formed DOJI candle on weekly charts.
- TRADING ZONE: Resistance: 14531 (Intraday resistance level) / 14617 (Daily high) Support: 14357 (Daily low) / 14221 (6 day low)
- BROADER MARKETS: MIXED, MIDCAP 21934.25 (-1.06%), SMALLCAP 7401.60 (-1.07%), Advance-Decline: 547/1345
- STRATEGY: Bearish below 14357 (Previous Week Low).