NIFTY sustains 11500! MACD turns postitive
Nifty - Technical Analysis:
-Benchmark indiex NIFTY traded sideways in a tight range, before ending the day with a positive bias.
-Today it got rejected from 11500 twice but crossed it with strength and also sustained it till the end.
-The markets are almost at the upper end of the trading range and a push above 11,600 could bring in more trading optimism with a test of the resistance zone
-Nifty settled 82 points, or 0.71 percent, up at 11,521.80
Market - Driving Factors:
-BSE Midcap and Smallcap indices closed 0.85 percent and 1.44 percent higher, respectively.
-BSE Realty pack closed 0.58 percent lower. Rest all sectoral indices closed in the green on BSE with Power, Bankex, Telecom, Healthcare, Finance and Basic Materials logging gains of over a percent each.
-Domestically, favourable inflation data and expectation of it going down further aided the positivity while the broader markets continued its outperformance today.
-On the flip side, BSE Telecom, Banks, Finance and Energy failed to perform and ended the day with losses.
Nifty - Outlook for Wednesday, 16th September:
Equities elsewhere in Asia moved higher on positive industrial data from China and optimism around COVID-19 vaccines. Investors keenly awaited the outcome of the US central bank's two-day policy meeting that starts later in the day. We can see some positive bias in coming day with testing of levels at 11600 and above.
-Benchmark indiex NIFTY traded sideways in a tight range, before ending the day with a positive bias.
-Today it got rejected from 11500 twice but crossed it with strength and also sustained it till the end.
-The markets are almost at the upper end of the trading range and a push above 11,600 could bring in more trading optimism with a test of the resistance zone
-Nifty settled 82 points, or 0.71 percent, up at 11,521.80
Market - Driving Factors:
-BSE Midcap and Smallcap indices closed 0.85 percent and 1.44 percent higher, respectively.
-BSE Realty pack closed 0.58 percent lower. Rest all sectoral indices closed in the green on BSE with Power, Bankex, Telecom, Healthcare, Finance and Basic Materials logging gains of over a percent each.
-Domestically, favourable inflation data and expectation of it going down further aided the positivity while the broader markets continued its outperformance today.
-On the flip side, BSE Telecom, Banks, Finance and Energy failed to perform and ended the day with losses.
Nifty - Outlook for Wednesday, 16th September:
Equities elsewhere in Asia moved higher on positive industrial data from China and optimism around COVID-19 vaccines. Investors keenly awaited the outcome of the US central bank's two-day policy meeting that starts later in the day. We can see some positive bias in coming day with testing of levels at 11600 and above.
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