Friday 5 February 2016

Nifty Technical Overview And Market Update



Nifty Technical Overview:
Nifty futures opened positive note and witnessed upside movement in 1st half of the day but in later part due to resistance of 7480 level and 200 days EMA in 15 min chart it fell sharply and closed positively. Nifty future is not sustaining above the level of 7450 and expected to continue for tomorrow.
Bank Nifty Technical Overview:
Bank Nifty futures opened positive note and witnessed choppy movement for the entire day. It faced strong resistance at the level of 15000; it broke twice in a day but could not sustain above it. Tomorrow it manages to sustain below then down side movement is expected up to the level 14750.

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Top Gainers & Losers
Axis Bank, ICICI Bank, Sun Pharma, HUL, Hero Motocorp and Hindalco gained 1-2 percent while Maruti Suzuki, GAIL and Tata Steel were down 1.6-2.6 percent.


INDIAN MARKET OVERVIEW
The market ended higher after wild swings after the Nifty re-conquered 7400 on short-covering. Nifty future up 39 points at 7422.
The 30-share BSE Sensex up 115 points at 24338. The market breadth was weak as about 985 shares advanced against 1666 declining shares on the BSE.
Two-wheeler manufacturer Bajaj Auto's third quarter earnings surpassed analysts’ expectations on Thursday with profit rising 4.7 percent year-on-year to Rs 901.5 crore on better-than-expected operational performance and other income.
ABB India, the power and automation technologies leader has reported a massive 53.6 percent year-on-year growth in profit Rs 129 crore for October-December quarter.

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