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Market Report

Friday, 21-Apr-2017

NSE

  • The Sensex closed the day 57.09 points, or -0.19 per cent, down at 29,365.30 today, while the Nifty50 slipped 17.00 points, or -0.19 per cent, to close at 9,119.40 today. The BSE Sensex and NSE Nifty settled in the red amid selling of select pharma, FMCG, power, auto and IT counters.

  • Extending losses for second consecutive week, benchmark indices settled marginally lower in a volatile session as investors stayed cautious in the earnings season. Nifty50 slipped below 9,100, dragged by index heavyweights like Sun Pharma and ITC. The index has now fallen below its 20-day exponential moving average (EMA) of 9,131 and faces 50-day EMA at 9,017.

  • A sharp rise in early trade today made traders believe that the Nifty50 might have made a bottom in the previous session, but a sharp fall thereafter towards the 9,088 mark, underscored continued consolidation in the market. On the positive side, the 50-pack index bought into the decline, forming a pattern similar to 'Hammer' on the daily chart. Now if it sustains below 9,090, then it may drift down towards 9,020, while a move above 9,135 may attract buying interest towards its next multiple hurdle of 9,191 and 9,218, say experts.

NIFTY 3-Month

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