Daily

Daily Market Update Report 15-11-2017


On 14/11/2017 markets opened on a subdued note witnessed selling pressure in the latter half of the session which led the indices to close in red. On the sectoral front Capital Goods, Telecom and Oil &Gas led the fall whereas Realty, Consumer Durable and Auto ended on the gainers side. The advance decline ratio was in favour of declining counter (Advances = 1159/Declines = 1546).

Pattern Formation: We maintain our stance that on the daily chart, we are observing that prices have tested the demand zone of 10240 to 10123 and have closed within the mentioned demand zone.

Outlook: We reiterate our view that the demand zone of 10240 to 10123 holds significance going forward. In coming trading session, if Nifty holds the mentioned zone that it is likely to test 10250 - 10280 levels. On the downside 10150 – 10080 may act as support for the day.        

We maintain our stance that if prices hold the mentioned demand zone then it is likely to test 10300 – 10350 levels in couple of days.

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


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