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Market Report

Tuesday, 17-Oct-2017


  • Domestic market snapped three-day gains to end flat today as investors booked profits after Nifty's record high close of 10,230.85 in the previous session. BSE Sensex ended the session 24.48 points or -0.08 per cent lower at 32,609.16 while the Nifty50 closed at 10,234.45 today, up 3.60 points or +0.04 per cent with 24 out of the 50 constituents ending in the green and the rest in the red.

  • The domestic equity market took a breather today, but the Nifty50 index continued its good fortunes to make a new lifetime high at 10,251. However, the momentum was missing as the index formed a small candle and traded in a range of around 38 points for the entire day. Turnover on both cash and F&O segments of NSE was down, a trend typical of the domestic market ahead of major festivals.

  • The Nifty50 took a breather today and formed a candle similar to the 'Doji' pattern on the daily chart, suggesting investors' indecisiveness at higher level. However, the index continued to make higher highs and higher lows. While major technical indicators continued to send out positive signals, lower participation may turn the index rangebound in the coming sessions. Now, the index has to hold above 10,250 to extend its move towards 10,300 and then 10,400. It has supports at 10,170 and 10,150 levels.

NIFTY 3-Month

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