Thursday 26 November 2015

Bank Nifty Market Trend Analysis for 26-Nov-2015



Sensex gains 90 points, Nifty50 above 7,850; DRL cracks 9%, Sun Pharma gains 2% 

The S&P BSE Sensex rose nearly 100 points in morning trade on Thursday, led by gains in Infosys, Sun Pharma, ICICI Bank, Tata Motors, RIL, and Axis Bank, ahead of November month's F&O expiry today. 
 
The Nifty50 also managed to reclaim its crucial psychological level of 7,850, led by gains in FMCG, IT, banks, capital goods, consumer durable, and realty stocks.
Shares of Dr Reddy's Labs cracked over 9 per cent in trade after the as withhold approval of the company's fresh drugs and stop import if no corrective action is taken. Meanwhile, shares of Lumax Auto Systems surged over 17 per cent and Globus Spirits gained over 10 per cent in trade. 



Tata Motors was down 0.25 percent as Goldman Sachs has downgraded the stock to sell from neutral as it believes the stock has priced in better H2FY16 volume growth and margin after H1FY16 slump.



The Finance Ministry has recently proposed a roadmap for the phasing out of all tax exemptions by the industry. According to proposal sunset clauses with regards to tax exemptions will be renewed and no weighted deduction will be allowed for any specified business activity from April 1, 2017 onwards.

Dr Reddy's Labs is down 8.5 percent while Hero, HDFC Bank, Wipro and Lupin are major losers. Sun Pharma, Tata Motors, Infosys, L&T and HUL are top gainers. The Indian rupee has opened marginally lower at 66.35 per dollar on Thursday against 66.32 a dollar in previous trading session. 
Bank Nifty Market Trend Analysis for 26-Nov-2015


BANK NIFTY TREND -CONSOLIDATE



  
BANK NIFTY FUTURE LEVELS

SUPP 1: 16830


SUPP 2: 16550



RES 1: 17170



RES 2: 17450

Fore More Details Visit to us: http://www.capitalheight.com/nifty-future.php

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