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Market Report

Monday, 18-Apr-2016


  • The 30-share Sensex closed the day at 25,816.36 today, up +0.74 per cent or 189.61 points, while its 50-share counterpart gained 64.25 points or +0.82 per cent to end at 7,914.70 today. Benchmark share indices ended higher on Monday amid a rally in IT shares led by Infosys after robust revenue growth guidance for the current fiscal.

  • The market saw a decent start to the day as the S&P BSE Sensex surged 200 points while the NSE's Nifty50 reclaimed the key psychological level of 7,900. But the equity indices pared the gains soon after with the Nifty50 even slipping into the red zone at one point. The market recovered steadily later in the day, with the Nifty50 comfortable floating above the 7,900 level.

  • The Nifty50 on Monday formed a 'Hanging Man' kind of pattern on the daily candlestick charts today. The Hanging Man pattern is usually formed when the market is on an uptrend. It signals exhaustion of an ongoing trend or the formation of an intermediate top. It is a bearish reversal pattern. It should be taken as a warning sign that the momentum may be weakening. The pattern should be studied along with the candlestick patterns made on the following trading day.

  • Wholesale prices in the country fell for the 17th straight month in March, dropping 0.85% compared to 0.91% in February showing that there was not too much pressure on prices from the commodities and manufactured products. This is welcome news and something that the Reserve Bank would keep a keen eye as food inflation has been a major pain point for the economy.

NIFTY 3-Month

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