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Market Report

Friday, 10-Mar-2017


  • The BSE Sensex closed 17.10 points, or +0.06 per cent, up at 28,946.23 today, while the Nifty 50 index settled 7.55 points, or +0.08 per cent, up at 8934.55 today. In the Nifty50 pack, 22 stocks ended the day in green, while 29 settled in red.

  • The S&P BSE Sensex reclaimed its crucial 29,000 mark in the early trade, while the broader Nifty50 also went above 8,950 after various exit polls suggested the Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) may comfortably cross the majority mark of 202 in the 403-seat UP Assembly, or come close to it. However, most market participants returned on the sidelines and preferred to wait for the actual election outcome on Saturday.

  • The Nifty50 index formed a Hammer candle on the daily chart as it recovered well from lower levels. Overall, it has been consolidating between 8,860 and 9,000 levels for 13 sessions now and is awaiting a decisive range breakout to commence the next leg of the rally. Now, if the Nifty50 sustains below 8,900, then it may correct towards the next supports at 8,860 and 8,750 level but if it holds above 9,000, it would start a fresh upward move towards 9,119 then 9,250 levels, say experts.

NIFTY 3-Month

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