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Market Report

Friday, 15-Dec-2017

NSE

  • The 30-share index ended with a gain of 216.27 points or +0.65 per cent to close at 33,462.97 today. On the similar lines, the Nifty50 closed at 10,333.25 today, up 81.15 points or +0.79 per cent, with 33 constituents ending in green and 17 closing in the red.

  • Benchmark indices gained ground and ended near their two-week highs today as investors cheered the exit polls that released their survey results at the end of the final phase of polling in Gujarat yesterday evening, predicted that the BJP was set to comfortably retain Gujarat and wrest Himachal Pradesh from the Congress. The Sensex rose as much as 375 points during the day in intraday, but later pared some gains on profit-booking at higher levels.

  • Nifty index opened positive with a gap of around 100 points and headed towards 10,373 levels, as market sentiment was boosted by yesterday's exit polls results. However, it failed to hold onto the gains and corrected by around 50 points from higher levels. The index formed a Spinning Top candle on the daily chart and closed near to its supply trend line. A decisive hold above 10,330 could take it towards 10,409, then lifetime high of 10,490 levels. While on the downside, supports are shifting higher at 10,250 then 10,200 zones.

  • With all eyes on actual state elections outcome, we expect fireworks in early trades on Monday. Indications are still favorable, but caution is advisable in stock selection. We suggest not jumping into the trade and waiting for the markets to stabilise.

NIFTY 3-Month

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