NIFTY back in trading range! Good opportunities ahead
Nifty - Technical Analysis:
-Nifty gapped up good today around 11400 and closed at 11378
-Nifty got back in trading range and not move on wither side is possible with a bullish bias
Market - Driving Factors:
-Gains in index heavyweights HDFC twins, Asian Paints and Axis Bank
-Bharti Airtel, ONGC, Tata Steel, HCL Tech and RIL were among the laggards. Of 30 Sensex shares 11 closed in the red.
-The broader markets continued to outperform the benchmark indices, with the midcap index rising half a percent and smallcap 1 percent.
Nifty - Outlook for Thursday, 20th August:
Nifty saw a good gap-up in the morning and sustained above the previous day close.Though it ended higher, the closing was lower than the opening tick so it formed a bearish candle on the daily chart. Traders should remain neutral and look for trends to form before making a decision
-Nifty gapped up good today around 11400 and closed at 11378
-Nifty got back in trading range and not move on wither side is possible with a bullish bias
Market - Driving Factors:
-Gains in index heavyweights HDFC twins, Asian Paints and Axis Bank
-Bharti Airtel, ONGC, Tata Steel, HCL Tech and RIL were among the laggards. Of 30 Sensex shares 11 closed in the red.
-The broader markets continued to outperform the benchmark indices, with the midcap index rising half a percent and smallcap 1 percent.
Nifty - Outlook for Thursday, 20th August:
Nifty saw a good gap-up in the morning and sustained above the previous day close.Though it ended higher, the closing was lower than the opening tick so it formed a bearish candle on the daily chart. Traders should remain neutral and look for trends to form before making a decision
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