Nifty Support & Resistance Levels
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 771
SUPP 2: 7630
RES 1: 7865
RES 2: 7930
Nifty opens below 7850, Sensex weak; Bajaj
Auto, TCS drag Bajaj Auto, Vedanta, TCS, M&M and Dr Reddy's Labs are major
losers while HDFC, NTPC, Maruti and Hindalco are top gainers in the Sensex.
Equity benchmarks ended at two-week closing high on Thursday, tracking rally in global peers after the first Fed rate hike in almost a decade. Nifty future up by 98 points to close at 7856.
Equity benchmarks ended at two-week closing high on Thursday, tracking rally in global peers after the first Fed rate hike in almost a decade. Nifty future up by 98 points to close at 7856.
The 30-share BSE Sensex up 309 points at 25803. The market
breadth was strong as about 1946 shares advanced against 751 declining shares
on the BSE.
India has ranked a low 97th out of 144 nations, behind
Kazakhstan and Ghana, on Forbes' annual list of the best countries for business
in 2015, scoring poorly on metrics like trade and monetary freedom and tackling
challenges like corruption and violence.
Shares of Aurobindo Pharma up 1.5 percent on getting
approval from USFDA for anti-diarrheal and anti-inflammatory drugs.
The Indian rupee reversed its some gains seen
in previous session. The currency has opened at 66.48 per dollar on Friday,
down 6 paise compared to 66.42 a dollar in previous session. It ended at over
3-week closing high yesterday.
F&O cues: Nifty 7700 Call sheds 7.5 lakh
shares in OI
Nifty 7700 Call sheds 7.5 lakh shares in Open
Interest (OI) on December 17
Nifty 7800 Call sheds 6.3 lakh shares in OI
Nifty 7900 Call sheds 6.3 lakh shares in OI
Nifty 7400 Put sheds 21 lakh shares in OI
Nifty 7500 Put sheds 23 lakh shares in OI
Nifty Technical Overview:
Nifty Technical Overview:
Nifty futures opened on positive note and witnessed slight
correction in morning session to take support at 7750 and bounced back sharply
in later part of the day to test the level of 7850. Tomorrow if it sustain
above 7800 then it expected to show bullish movement up the level of 7900.
Bank Nifty Technical
Overview:
Bank Nifty
futures opened on positive note and witnessed slight downside movement in
earlier session to take support at 16500 and bounced back sharply in later part
of the day and test major resistance of 16800. If it sustain above 16700 then
it is expected to test the level of 16900.
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