Business National

The market may show a decline in the coming days, but apart from that the market structure is made up of bulls.

Dear Trader…

The Indian stock market started the last day of the week with a rally. Long-running foreign funds have seen heavy selling in the past week, with a worrying rise in India’s transition to corona.

Indian shares ceded ground on Friday after three sessions of gains, pressured by a fall in private-sector lenders, while shares of consumer goods producers gained amid restrictions in some states after a resurgence in coronavirus cases.

Nifty futures opened at 14901.10 points against the previous close of 14924.40, opening at a low of 14810.00 points. Nifty Future closed with an average movement of 157.45 points and a decline of around 31.40 points and around 14893.00 points..!!!

On the NSE, the Midcap 100 Index rose 0.15% and the Small Cap 100 Index rose 0.36%. Speaking of various sectoral indices, the NSE sell-off in fmcg, it, media, pharma, and psu bank toms while all other sectoral indices high closed. A total of 215 stocks traded on the NSE.

At the beginning of intra-day trading, June Gold opened at Rs.46766, fell from a high of Rs.46887 points to a low of Rs. 46314, with a decline of 228 points, a trend of around Rs.46610 and May Silver opened at Rs.67181, fell from a high of Rs. 67456 points to a low of Rs.66371, with a decline of 540 points, a trend of around Rs.66961..!!

India has been witnessing a record increase in the number of COVID-19 cases on a daily basis, prompting some states to impose strict bans. shares of consumer goods companies rose 1.3%, the highest in 14 sectoral indices. Consumer products giant Hindustan Unilever was up 3%.

The market may show a decline in the coming days, but apart from that the market structure is made up of bulls. The market is booming due to the success of vaccines. there have been corrections in the bullish phase in the past as well. This time too, along with the positive factors, the bullish trade in stocks is likely to ease, so caution will be required.

It would be advisable to book a partial profit now, realizing that the current record highs have been an invaluable opportunity for profit booking.

Technically, the important key resistances are placed at 14808 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 15008 – 15088 levels. Immediate support is placed at 14747 – 14676 levels.

Note :- Before Act please refer & agree Terms & conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in

Related posts

North Delhi Mayor Jai Prakash picked up garbage from streets, urged sanitation workers to end strike and return to work

kvadhel78

Covid-19: Karnataka recorded 437 fresh cases in last 24 hours

kvadhel78

Want Vasundhara Raje as Rajasthan CM in upcoming polls: Vasundhara Raje Samarthak Manch Rajasthan

kvadhel78

Leave a Comment