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Market Report

Tuesday, 16-Jan-2018


  • The 30-share Sensex declined 72.46 points or 0.21 per cent from Monday's close to end at 34,771.05 today. The NSE Nifty50 ended today's session 41.10 points or 0.38 per cent down at 10,700.45 today. Among the 50 stocks in the Nifty50 index, 17 closed the day in the green, while 33 in the red on Tuesday.

  • Benchmark indices snapped a three-day winning streak and ended flat but on a negative note today on account of profit-booking across sectors, as gains in IT stocks were offset by losses in oil refiners, with sentiment dampened after data showed the country's trade deficit widened in December. Oil refiners fell as global oil prices rose to near three-year highs due to production curbs in OPEC nations and Russia and robust demand from healthy global economic growth.

  • The Nifty50 index formed a Bearish Belt Hold candle on the daily chart, as it made a high near its opening level and witnessed selling pressure till the end of the session. The index closed in the negative territory and faced a hurdle near its supply trend line on the monthly chart. If it sustains below 10,700 level, then more profit booking can be seen towards 10,650 and 10,600 levels, while on the upside, hurdles are seen at 10,750 and 10,786 levels. The only saving grace for the bulls in today's session was that it defended the immediate support at 10,690 on a closing basis.

NIFTY 3-Month

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