Bank Nifty Market Trend
CH BANK NIFTY TREND –CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 17040
SUPP 2: 16850
RES 1: 17570
RES 2: 17850
Market Trend
The market extended previous day's rally further in early
trade Wednesday. The Sensex surged 225.78 points or 0.88 percent to 26004.44
and the Nifty climbed 71.35 points or 0.91 percent to 7914.65. Tata Steel,
Vedanta, TCS, Hindalco Industries, SBI, HDFC and IndusInd Bank rallied 1.5-2.5
percent.
The Indian rupee gained 9 paise in early trade today. It has opened at
65.87 per dollar against previous close of 65.96. Pramit Brahmbhatt of Veracity
feels reduction in FII inflows coupled with profit booking in local equities
may pressure the rupee to trade weak. He sees range for today between
65.40-66.40/dollar.
- Indian mkts ended upside. Nifty and Sensex up by 0.61% and 0.63%
- Asia Pacific market mixed. Jakarta up by 1.39% & Nikkei down by 4.22%.
- Wall St. dwn. USD Core Retail Sales down to 0.1%. Dow future down by 187 pts.
Indian indices remained volatile and closed on positive
note as RBI lowered the repo rate by 50 basis points to 6.75 percent, while
kept CRR and SLR unchanged at 4 percent and 21.5 percent, respectively. Sensex
was up by 161 points at 25778 & Nifty up by 47 points to settle at 7843
level. European markets traded mixed.
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