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Market Report

Tuesday, 28-Mar-2017


  • The domestic equity market ended higher today following firm Asian cues amid sustained inflows from foreign institutional investors. The 30-share BSE Sensex closed 172.37 points, or +0.59 per cent, higher at 29,409.52 today, while the 50-share NSE Nifty index reclaimed the psychological level of 9,100 and settled 55.60 points, or +0.61 per cent, up at 9,100.80 today.

  • Snapping Monday's loss, the domestic equity market bounced back today, and ended in the positive territory on strong global cues after investors dismissed concerns over US President Donald Trump's ability to ability to push his agenda. The Nifty50 index opened in the positive and witnessed sustained buying as it managed to hold above the 9,075 mark.

  • At 9,100, the Nifty50 ended up forming a 'Small Bull' candle on the daily chart today, a day after it formed a double bottom at 9,020 and its 13-day EMA. The index is holding the immediate support trend line by connecting the swing lows of 8,719, 8,903 and 9,024. As long as this trend line is not broken, the immediate trend may remain positive in the market. Now, it has to hold above the 9,075 mark to extend the upward move towards 9,130-9,160 and then 9,218 levels, while on the downside, immediate support is seen at the 9,020 mark.

NIFTY 3-Month

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