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Market Report

Monday, 27-Nov-2017

NSE

  • Both BSE Sensex and NSE Nifty rose for a eighth straight day to equal the longest winning streak of the year. Sensex closed at 33,724.44, up 45.20 points or+ 0.13 per cent and Nifty50 ended at 10,399.55, up 9.85 points or +0.09 per cent with 25 components in the green and rest in the red.

  • In a volatile trading session, the benchmark indices extended gains for the eighth straight day with the Nifty settling just one point below its crucial 10,400 mark ahead of the derivatives expiry of November series due on Thursday. Broader sentiment was, however, subdued after Standard & Poor's retained the country's sovereign rating of "BBB-minus" and maintained "stable" outlook, citing low income levels, high debt and weaker government finances. Investors are now awaiting key macrodata due later this week for cues.

  • The Nifty index opened in negative today but managed to hold near the 10,350 level and headed towards the 10,400 level. It formed a bullish candle on daily scale and saw the highest daily close in 15 sessions. It also continued the formation of higher highs for last five sessions and the daily MACD indicator made a bullish crossover. With this, the index completed its longest winning streak of calendar 2017. The short-term trend had a positive bias, suggesting that the next leg of rally may be in the offing, say analysts. Now, it has to hold above 10,350 to witness an upward move towards the 10,450 and 10,500 levels, while on the downside, major support exists at the 10,300 level.

NIFTY 3-Month

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