IntradayTrade dot Net dot IN
Market Report

Thursday, 19-Nov-2015


  • The S&P BSE Sensex ended at 25,841.92, up 359.40 points, or +1.41 per cent, while the Nifty50 settled at 7,842.75, up 110.95 points, or +1.43 per cent higher. Both the benchmark indices ended 1.4% higher, the largest single-day percentage gain since October 5. Bajaj Auto and Vedanta were the top gainers on the BSE index.

  • Our markets advanved today ahead of the submission of the Seventh Pay Commission report and tracking positive cues from European and other Asian markets after the Wednesday release of the minutes of the US Federal Reserve which suggested that the US central bank would likely hike interest rate in December, and only gradually after that. Overnight, Wall Street jumped on the confidence about the health of the world's largest economy.

  • Meanwhile, the government has decisively turned its focus on the reforms agenda and is determined to push through crucial reforms to support growth in Asia's third largest economy. The government today approved compensation for the developers of 34 stalled projects, while the cabinet committee on economic affairs has also cleared four big-ticket railway projects. The reform process sends out positive signals to investors, and will be crucial to give markets the much-needed boost.

  • Strong support for Nifty50 seen at 7,700; hold on to long positions, says Mitesh Thacker. This bounce back might extend for a few days. For the time being, 7,850-7,870 on the upside is the level on the Nifty50 to watch out for. Beyond that, one must continue holding long positions; maybe one can take a speculative trade in the option side as well, he adds.

  • Nifty50 likely to breach 7,850 level on Friday, says Sandeep Wagle. I am not convinced that the bottom is done and we are on the way up, some more upside is available, but till 7,850-7,860 is crossed on a closing basis I do not want to be long on the Nifty. For me, Nifty is in a no trade zone, said Wagle.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)