Equity benchmark indices start the day by gap up opening after US Fed hikes rate by 25 bps and also raises growth outlook and then market was in mood of roller costar tracking Asian market, market movement was sideways as in first half Nifty future falls nearly 90 points from day high and in second half Nifty future zooms up nearly 130 points from day low to close 60.90 points up from previous day close. There was something for everyone in the market as market has given opportunities for buy side and sell side trader. November WPI inflation increased to 3.93 percent against 3.59 percent in previous month.
All sectoral indices ended today session in on positive basis except Media sector closed with marginal loss of 0.26%. FMCG sector gain the most by 0.85 % followed by Pharma sector which gain by 0.76%.
The Sensex closed up by 193.66 points at 33246.70 and the Nifty future up by 60.90 points at 10276.10.market
All sectoral indices ended today session in on positive basis except Media sector closed with marginal loss of 0.26%. FMCG sector gain the most by 0.85 % followed by Pharma sector which gain by 0.76%.
HPCL, DR. Reddy’s lab and Cipla were the top gainers today, while TCS, Gail, UPL were top loosers.
We have witness volatile and directional less movement in the market again on Thursday trading session which has been the story so far but if we closely observe Nifty future movement, it is moving in a range of 10100 to 10350 and as we said earlier in our reports that any breakout above 10380 or below 10100 will indulge directional movement in equity benchmark indices. Now only Gujarat Assembly election result is due on 18th of December before US market will go on holiday on the occasion of Christmas and New Year. We like to again advise traders and investors to remain in bullish trend and to follow buy on dips strategy and be stock specific and to do proper study before investing till the outcome of any events.
Support of Nifty future is placed at 10130 and 10070.
Resistance of Nifty future is placed at 10380 and 10440.
Support of Bank Nifty future is placed at 24880 and 24650.
Resistance of Bank Nifty future is placed at 25500 and 25660.
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