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Market Report

Tuesday, 28-Nov-2017

NSE

  • A day after equalling year's longest winning streak of eight days, Sensex ended 105.85 points or -0.31 per cent lower at 33,618.59 today, while the Nifty50 closed at 10,370.25, down -0.28 per cent or 29.30 points. Domestic equity market ended on a negative note today as investors' focus shifted to September quarter GDP data due on Thursday. Profit taking in index heavyweights also weighed on the equities.

  • Asian shares also fell, stepping back from decade highs as Chinese stocks stumbled for a second straight session. MSCI's broadest index of Asia-Pacific shares outside Japan slipped -0.3%. Point to note: November expiry has been a mixed affair so far. Market-wide rollovers on the D-3 came in at 27% which is on the higher side compared to the average rollovers of 21% of the last three series. Nifty futures rollovers, meanwhile, stood at 32% which is also high compared to the average rollovers of 18% of the last three series.

  • The Nifty50 snapped an eight-day winning streak to end in the red today. It was the sixth consecutive session when the index formed a higher high on the daily chart. It was also the third straight day, when the index could not close above the 10,400 level even through it breached that level in intraday trade. The Nifty50 index formed an inside bar, as it traded inside the trading range of last session. Chart patterns indicate if the Nifty50 manages to to hold above 10,350 and then cross the 10,420 level, it may scale the 10,460 and 10,490 levels in the short term. Supports are placed at 10,320 and 10,280-10,240 levels.

NIFTY 3-Month

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