Daily

Daily Market Update Report 12-10-2018


On 11/10/2018 markets opened down with a gap recovered some of its losses to close in red. On the sectoral front Realty, IT, Teck Healthcare and Auto led the fall whereas Oil & Gas and Energy ended on the gainers side. The advance decline ratio was in favour of declining counter (Advances = 819/Declines = 1765).

Pattern Formation: On the daily chart, we are observing that prices have retested the demand zone. 

Outlook: The current price action suggests that 10111 remains crucial support. In coming trading session if Nifty hold 10111 levels then it may test 10300 – 10335 levels. On the downside, if Nifty breaches 10111 then next support is at 10080 – 10050 levels.

We maintain our stance that the trend remains down and pull-back rally is likely to attract selling pressure. Hence, one needs to adopt cautious approach towards the market.

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


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