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Market Report

Friday, 25-Nov-2016

NSE

  • The 30-share Sensex closed 456.17 points, or +1.76 per cent, higher at 26,316.34 today, while the 50-share Nifty50 pack ended148.80 points, or +1.87 per cent, higher at 8,114.30 today. Among the 50 Nifty components, 42 ended the day in the green.

  • Snapping previous session's losses, the December futures and options series kicked off on a firm note today, as the BSE Sensex and NSE Nifty50 surged nearly +2 per cent on brisk buying by funds and retail investors at lower levels amid firm Asian cues. The benchmark indices today staged a smart recovery led by gains in IT and pharma stocks after the rupee today hit its all-time low against dollar. Positive global cues as dollar retreated from 14-year high mark also added to the gains.

  • The bulls finally made a comeback on Dalal Street helping the Nifty50 closed above three key resistance levels of 8000, 8,050 and 8,100 today to register a 'Long White Day' kind of formation or bullish candle on the daily candlestick charts. If the momentum continues, the index will be on track to reclaim its 200-SMA placed at the 8,150 level, which might create a crucial hurdle for the index. If the bulls can sustain above 8,150 on a closing basis, the next best target can be expected around the 8,300 level, said experts.

NIFTY 3-Month

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