Daily

Daily Market Update Report 06-11-2018


On 05/11/2018 markets opened on a subdued note traded in a narrow range with negative bias to close in red. On the sectoral front Power, Oil & Gas and Healthcare ended on the losing side whereas Realty, IT and Teck ended on the gainers side. The advance decline ratio was in favour of declining counter (Advances= 1290 Declines= 1308).

Pattern Formation: On the Daily Chart we are observing that prices are facing resistance at the downward sloping trendline

Future Outlook: The current price action suggests a breather of current pullback rally. In coming trading session if Nifty trades above 10560 levels then it may test 10600 - 10630 levels. On the down side, 10480 - 10420 levels may act as support for the days.

Broadly we are of the opinion that one needs to adopt cautiously positive approach at current levels.

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


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