IntradayTrade dot Net dot IN
Market Report

Monday, 24-Apr-2017

NSE

  • The 30-share BSE Sensex closed +0.99 per cent, or 290.54 points, up at 29,655.84 today, while the 50-share NSE Nifty index settled 98.55 points, or +1.08 per cent, up at 9217.95 today. The domestic equity market broke a week-long jinx and spurted over +1 per cent today with nearly 150 stocks on NSE hitting their fresh 52-week high.

  • The benchmark indices started the week on a strong footing tracking positive trend in global markets after the market's favored candidate, Emmanuel Macron, won the first round of the French presidential election, reducing the risk of a Brexit-like shock. Back home, investors await a slew of quarterly earnings reports, including that of Reliance Industries due after market hours today.

  • Nifty50 today breached its 20-day and 13-day exponential moving averages (EMAs) and closed at 9,218 which was once an all-time high level for the 50-pack index. This level is now proving to be a strong resistance level. In the process, the index formed a 'Long White Day' pattern on daily chart, signalling a reversal in trend. Technically, the Nifty has confirmed a breakout from the Trend Line resistance of 9,200 on hourly chart, and if the momentum continues, the index may be on track to hit its all-time high of 9,274, say experts.

NIFTY 3-Month

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