Daily

Daily Market Update Report 13-11-2017


Sensex ended with a net loss of 1.10% whereas Nifty lost 1.25% w-o-w.

Pattern Formation: On the weekly chart, we are observing a spinning top candlestick pattern which suggests that prior up trend is losing breath. On the daily chart, we are observing that prices have come closer to the demand zone of 10251 to 10112. Further, we are observing three narrow range body formations which suggest indecisiveness prevailing at current level.

Outlook: The current price action both on weekly as well as on the daily chart suggests that markets are cautious at current level. In coming week if Nifty trades and close above 10371 levels then it is likely to test 10440 – 10509 – 10590 levels. However, if Nifty trades and close below 10271 level then it can test 10202 – 10133 – 10053 levels.

Broadly, for current week we are of the opinion that the demand zone 10251 to 10112 holds significance going forward. Any breach of the mentioned demand zone would intensify the selling pressure. However, if Nifty holds the above mentioned demand zone there is high probability that Nifty may test 10400 - 10500 levels in couple of weeks.

Tags: Nifty Technical OutlookNifty50 Technical LevelsGuru CallsOpen Interest FiguresFIIs & DIIs Data


Search Reports

SEARCH

Open an account

OPEN AN ACCOUNT

Reports

Daily Metal & Agro Buzz

HIGHLIGHTS: U.S. natural gas...

Read More

Daily Market Update...

On 16/11/2017 markets opened...

Read More

Daily Metal & Agro Buzz:

HIGHLIGHTS: With over two...

Read More

Daily Currency Market...

HIGHLIGHTS: The dollar was...

Read More

Daily Market Update...

On 15/11/2017 markets opened...

Read More

Bank of Baroda - Q2FY18...

Bank of Baroda reported...

Read More

UFLEX

POSITIONAL CALL: BUY UFLEX AT...

Read More

TATA COMM

INTRADAY CALL: BUY...

Read More

HSIL - Q2FY18 Result...

HSIL Net revenue stood at Rs...

Read More

M&MFIN

POSITIONAL CALL : BUY...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.