Today Nifty closed at 24484 surging 277 points adding ₹8 lakh crore to market capitalization by the BSE listed companies. Yesterday, after forming a piercing line candlestick pattern in daily chart, today Nifty closed above yesterday's high for the first time after the fall. It's a positive signal for the short term basis. Now Nifty is at its resistance area. We can see from the above chart that it faced resistance at 24537 levels where 20 EMA is positioned. If it can trade above 24537 decisively we can see a further rally of Nifty upto 24750 24850.
All the sectoral
indices closed in the green. Nifty IT, Reality and oil and gas increased most.
Nifty IT index gained 4% and contributed most in today's move of Nifty. As
Donald Trump has been re-elected as the 47th President of USA, Indian stock
market in coming day may be remained volatile due to his tightened tax cut
policies and restrictions on immigration plans. His America First and Make
America Great Again slogans may pose control on immigration which can influence Indian
IT sectors negatively.
Tomorrow, there are so
many big companies will publish their results and tomorrow is weekly expiry of
Nifty. So market will be volatile. As of now, on the lower side Nifty has the
first support at 24200 level, then at 24000 level and third support at 23800
level from which level Nifty bounced back and formed a bullish reversal pattern
which may extend its rally upto 24800 or may touch 25000.
Today’s Five Top Gainers (Nifty 500):
𝟭. 𝗜𝗙𝗖𝗜 𝗟𝘁𝗱. 𝗥𝘀. 𝟲𝟱, 𝟮𝟮(𝟭𝟯.𝟭𝟭%)
𝟮. 𝗞𝗲𝘆𝗻𝗲𝘀 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼. . 𝗥𝘀. 𝟱𝟴𝟳𝟮.𝟵𝟱 (𝟭𝟬.𝟱𝟱%)
𝟯. 𝗦𝘆𝗿𝗺𝗮 𝗦𝗚𝗦 𝗧𝗲𝗰𝗵.. 𝗥𝘀. 𝟱𝟱𝟰.𝟭𝟱(𝟵.𝟯𝟲%)
𝟰. 𝗗𝗶𝘅𝗼𝗻 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼... 𝗥𝘀. 𝟭𝟱𝟲𝟰𝟳.𝟲𝟬(𝟴.𝟲𝟰%)
𝟱. 𝗲𝗖𝗹𝗮𝗿𝘅 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗥𝘀. 𝟯𝟮𝟴𝟰.𝟴𝟱(𝟴.𝟬𝟲%)
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