| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,106.81 | -31.46 | -0.04% |
| Nifty 50 | 25,986.00 | -46.20 | -0.18% |
| Nifty Bank | 59,348.25 | 74.45 | +0.13% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Wipro | 254.69 | 4.52 | +1.81% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Adani Enterpris | 2,189.80 | -49.80 | -2.22% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 37825.30 | 284.00 | +0.76% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8253.20 | -261.70 | -3.07% |
While the market gains could extend in the coming sessions, we prefer to remain cautious at higher levels. We believe volatility is likely to remain high in the near term, hence investors should follow stock specific approach focusing on fundamentally sound stocks at attractive valuations. Meanwhile, investors would keep a watch on outcome of GST council meet (scheduled tomorrow) as well as continue to track global markets.
Bulls came back strongly and pushed the Nifty to fresh all-time highs. Market breadth has been strong for past few sessions giving an early indication of the buoyancy and value in the broader markets.
Nifty is headed for 12,400-12,450 in the near term. We have continued to maintain bullish stance on the markets even during the downside which has worked very well. Metal sector is likely to surprise on the upside. Immediate support is placed at 12,000 zone.
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After showing a higher levels weakness in the last session, the Nifty shifted into a sharp up move today and closed the day higher by 111 points. A long bull candle was formed today and the Nifty registered a new all-time high of around 12182 levels. This pattern indicates an attempt of upside breakout of the recent all time high of 12158 levels (28th Nov).
As of now, we have a chances for a formation of double top, if the Nifty fails to sustain the current highs. The negative divergence pattern in the daily RSI and Nifty seems to have started to develop at the new highs. We need confirmation of down tick.
Hence, the short term trend of Nifty is positive. A sustainable move only above 12200 levels could open up further upside towards 12450 levels in the near term. Any failure to sustain the current highs could trigger short term downward correction in the market.
Positive global sentiments buoyed by easing trade war tensions between the US and China continue to pump market. Economic growth remains on the lower side while risk appetite of investors are gradually improving on expectation of further steps from the government in the upcoming budget to revive consumption and attract investments.
Benchmark indices bounced back and touched fresh record highs on December 17 on the back of buying seen in the metal, IT and auto stocks.
At close, the Sensex was up 413.45 points or 1.01% at 41352.17, and the Nifty was up 111 points or 0.92% at 12165. About 1427 shares have advanced, 1052 shares declined, and 194 shares are unchanged.
Tata Steel, Bharti Airtel, Hindalco, Vedanta and Tata Motors were among major gainers on the Nifty, while losers were Sun Pharma, GAIL, Bajaj Auto, HUL and Titan Company.
Among sectors, buying witnessed in metal, IT, auto, infra, FMCG and banking stocks, while some selling seen in the selected pharma names.
The Indian rupee erased its intraday gains but trading marginally higher at 70.97per dollar.
Benchmark indices are trading at fresh record high levels on the back of buying seen in the across the sectors.
The Sensex is up 390.21 points or 0.95% at 41328.93, and the Nifty up 107.10 points or 0.89% at 12161.10. About 1345 shares have advanced, 1003 shares declined, and 177 shares are unchanged.
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