Monday, 22 February 2016

Bank Nifty Technical Overview @ Live Market Update



Sensex, Nifty open flat; HUL, Maruti, Bharti early laggards Cipla, BHEL, Sun Pharma, Tata Motors and NTPC are top gainers while HUL, Maruti, Bharti, ITC and Hero are losers in the Sensex.
Bank Nifty Technical Overview:
Bank Nifty futures opened with flat note and witnessed consolidated movement for most part of the day but closed with positive note by end of the day. It closed near 200 days EMA in 15 min chart. If it sustain above 14350 and break 14420 then upside movement is expected.
Nifty Technical Overview:
Nifty futures opened with flat note and witnessed consolidated movement for most part of the day but closed with positive note by end of the day. It closed above the 200 days EMA in 15 min chart and sustained above it so it is expected to go upside in upcoming session.

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INDIAN MARKET OVERVIEW
It was a consolidation session for the market on Friday but the week was strong as equity benchmarks saw biggest weekly gains in 2016 on short covering and globally rally & oil recovery. Nifty future up 21 points at 7212.
The 30-share BSE Sensex up by 59 points at 23709. The market breadth was strong as about 1271 shares advanced against 1234 declining shares on the BSE.
Tata Steel is planning to undergo a massive consolidation and debt reduction drive to bring it down by 10-15 percent by CY16-end. The company is currently sitting on a debt of Rs 77500 crore.
In aviation, SpiceJet surged 4 percent after it recorded highest passenger load factor (92.1 percent for January) among all airlines in India.

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