IntradayTrade dot Net dot IN
Market Report

Tuesday, 13-June-2017


  • A divergent trend was witnessed on the Dalal Street today as the BSE Sensex closed 7.79 points, or +0.03 per cent, up at 31,103.49 today, while the NSE Nifty index settled 9.50 points, or -0.10 per cent, down at 9,606.90 today, with 19 stocks ending the day in the green, while 31 stocks settled the day in the red. Market ended so flat that one index closed in the green while the other closed red.

  • After witnessing a 200-point swing in intraday trade, the Sensex ended flat today amid heavy selling on select bluechip counters. The market rose in early trade as the Nifty50 moved beyond 9,650 after much softer-than-expected inflation data fuelled hopes of an interest rate cut by RBI at its next policy review in August. But investors booked profits later in the day as they braced for a possible rate hike by US Fed after it's two-day policy review. The US Fed is highly likely to increase lending rate by 25 basis points. The markets will react to the outcome on Thursday.

  • The Nifty50 today failed to hold above the 9,650 mark and corrected towards the 9,600 level. In the process, it formed an 'Inverted Hammer Candle' on the daily chart and saw the lowest daily close in 11 sessions. The index started forming lower lows since last three sessions, but got stuck in a trading range of 100 points. Experts expect such minor corrective mood to continue on in Wednesday's session as well. In the forthcoming sessions, the pattern support of 9,600 and the 20-DMA of 9,565 will be crucial to watch out for. As long as we hang on to these levels, no major downside is likely. Any breach below the 9,550 level will bring in more weakness.

NIFTY 3-Month

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