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Market Report

Monday, 22-Jan-2018


  • The Bull Run continued on Dalal Street on the first day of the F&O expiry week, as the headline indices soared to fresh lifetime peaks today on sustained optimism among investors. The BSE Sensex added 286.43 points, or 0.81 per cent, to close at 35,798.01 today. The Nifty50 rose 71.50 points, or 0.66 per cent, to close at 10,966.20 today with 27 conmstituents ending in the green and 23 in the red.

  • Indian equity market continued to rally and went on to scale yet another peak today, as the benchmark index Nifty50 ended the day with decent gains. After a tepid start and a rangebound trade in the first half of the session, the buoyancy returned to the market. While going into the trade on Tuesday, we expect the levels of 10,880-10,900 acting as a strong base. Though a quiet to modestly positive start is expected, there are heightened chances that the market encounter consolidation in a defined range, while individual stocks continue to outperform.

  • The Nifty50 index continued its upward move and made a new lifetime high at 10,975.10 today. In the process, it formed a strong bullish candle on the daily chart. It has been making higher highs and higher lows from last three sessions and supports are gradually shifting higher. It has surpassed its supply trend line and now the same is acting as a support zone to push the market higher. Now, the index has to hold above 10,850 to extend its move towards 11,050 and then 11,100 levels, while on the downside, support is seen at 10,800 level.

NIFTY 3-Month

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