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Market Report

Monday, 18-Sept-2017

NSE

  • The NSE barometer Nifty50 hit a fresh closing high of 10,153.10 today. The index rose 67.70 points, or +0.67 per cent for the day. During the session the 50-pack index made an all-time intraday high of 10,171.70, breaching August 2 level of Rs 10,137. The BSE Sensex rallied 151.15 points, or +0.47 per cent, to close at 32,423.76 today. More than 35 Nifty stocks ended the day in the green.

  • The benchmark indices extended gains for the eighth straight session today with the Nifty50 settling at its record closing high thanks to gains in banking and auto stocks. The Sensex, meanwhile, remained 262 points away from its lifetime high of 32,686 level on the closing basis. Overseas, European markets rose to their six-week highs, while Asian markets hit decade highs as investors regained confidence after the weekend passed with no new provocation by North Korea.

  • The Nifty50 index at last broke out of its strong resistance of 10,137, also its previous all-time high, to settle at a record closing high today. In the process, the index formed a bullish candle, with a gap-away pattern, on the daily chart which indicates that the bulls have jumped over the 'supply zone'. Technical analysts said the pullout from the supply zone augurs well for the index, and it is now likely to rally towards the 10,200 level as long as it holds above 10,138. If it slips below the 10,043 level, it should be seen a sign of weakness, they said. Supports are seen at 10,050 and 10,020 levels.

NIFTY 3-Month

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