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Market Report

Monday, 16-Oct-2017


  • It was a good start for the Diwali Week on Dalal Street as the benchmark indices settled at fresh lifetime highs today. The Nifty50 closed above the 10,200 mark for the first time ever to close at at 10,230.85, up +0.62 per cent or 63.40 points, with 34 stocks ending the day in green, while 16 stocks settled the day in red. The BSE Sensex ended the day at 32,633.64, up as many as 200.95 points or +0.62 per cent.

  • Festive buying continued on Dalal Street on Monday, which lifted the benchmark indices to fresh record highs. The broader Nifty50 index of the National Stock Exchange scripted history, as it crossed the 10,200 mark for the first time ever and hit an intraday high of 10,242.95. On similar lines, the 30-share Sensex pack of BSE hit a fresh closing peak as well as a new intraday high of 32,687.32 in trade today.

  • The Nifty50 on Monday extended its recent rally to secure a record high closing. The index formed a Strong Bullish Candle on the daily chart and decisively broke out of its three-month-old channel. The index is making higher top and higher bottom for the past few sessions and has been trading above all the short-term moving averages. Now, if the Nifty50 breaks above the 10,270 level, it may test the 10,355 and later 10,435 levels in the near term. If it falls below the 10,170 mark, it may test the 10,048 and 9,979 levels. The upside momentum will remain intact as long as the index holds above these levels. There is a higher probability that the index will hit the 10,350 level over the next few weeks, say Analysts.

NIFTY 3-Month

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