2 mins Nifty Wrap

Technology 27 November 2020 6:16:PM

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NIFTY witnessed a low range session….

Highlights

  • The benchmark indices NIFTY and SENSEX ends the session with a bearish tick of (-0.14%) and (-0.25%) respectively, while the BANK NIFTY ended the session with a gain of (0.20%).
  • The RSI (67.80) plotted on the daily time frame can be seen hovering near the overbought level, pointing towards the ongoing tug of war between the bulls and the bears.
  • On the sectoral front 10 out of 11 sectoral indices ended the session in the green with the NIFTY REALTY, NIFTY MEDIA and NIFTTY AUTO ending the session with a gain of (2.65%), (1.48%) and (1.41%) respectively.
  • NIFTY IT was the only sectoral index that ended the session with a loss of (-0.43%)
  • The NIFTY Heavy weight like TATAMOTORS, ASIANPAINT and HEROMOTOCO and were the highest gainers, and ended the session with a gain of (2.82%), (2.01%) and (2%) respectively.
  • NESTLEIND, POWERGRID and JSWSTEEL were the underperformers that ended the session with a loss of (-4.34%), (-3.24%) and (-2.60%) respectively.

Technical

  • NIFTY SPOT: 12968.95 (-0.14%)
  • DYNAMIC PARAMETER: Nifty ends the week on an indecisive note
  • TRADING ZONE: Resistance: 13079 (24th Nov high) / 13145 (3 day high) Support: 12914 (Daily low) / 12790 (Previous session low)
  • BROADER MARKETS: OUTPERFORMED, MIDCAP 19715.10 (2.70%), SMALLCAP 6573.30 (3.07%), Advance-Decline: 1185/675
  • STRATEGY: Bullish till above 12730 (Swing Low).