Daily

Daily Market Update Report 13-06-2018


On 12/06/2018 markets opened higher traded with positive bias throughout the day to close in green. On the sectoral front Capital Goods, Healthcare and Bankex ended on the gainers side whereas Metals and Telecom ended on the losing side. The advance decline ratio was in favour of advancing counter (Advances = 1441/Declines = 1222).

Pattern Formation: On the daily chart, we are observing a narrow range body formation which indicates indecisiveness prevailing at current level. 

Outlook: The current price action suggests that markets are cautiously positive at current level. In coming trading session if Nifty trades above 10860 levels then it may test 10900 – 10950 levels. On the downside, 10800 – 10750 levels may act as support for the day.

We maintain our stance that the weekly trend is up. Hence, near the upward gap area (10698 – 10722) there is a possibility that buying may emerge. Further, stock specific activity is likely to continue. 

Tags: Nifty Technical OutlookNifty50 Technical LevelsGuru CallsFIIs & DIIs DataRatings for stocks under our coverageNews for stocks under our coverage


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