The late session fall in Bank Nifty changed the direction of the market, leading to a marginal fall in the benchmark indices. Bank Nifty yet again resisted at its multiple point downward sloping trendline level at 25733.
Nifty Pharma index has come in as the healer in an otherwise sluggish market. Index has given a consolidation breakout at the 9420 level today and if the it sustains 9420, followed by 9628 on the upside, it has a long way to go.
Where the benchmark indices have been sluggish with the end of Gujarat election boom, the broader markets have continued their rallies initiated after December 14.
It’s a fifth consecutive day of disappointment for the modish investors of the Bitcoin, the world’s most trending cryptocurrency, which has corrected nearly 34.6 per cent.
After struggling from November 13, finally Nifty IT index succeeded in giving its multiple resistance breakout at 11340-11350 levels. It holds potential to move up in the near term.
TTK Prestige, a kitchenware company, surged as much as 9 per cent from its previous close, despite a highly volatile market, breaching prior all-time high at 7500.
Indian stock markets went violently volatile on the first day of the week, ahead of the Gujarat election results. Nifty has now bounced back and broke the previous major resistance at 10410 levels.
Nifty Metal index witnesses downward sloping channel pattern breakout initiated on October 19, 2017. Nifty Metal frontliners have given breakouts on daily basis on Friday, after witnessing consolidation at lower levels.
NRB Bearings Ltd, a maker of ball and roller bearings, hit its 52-week high at Rs. 165 per share on Friday, December 15, with more than 3.88 times spurt in its volumes.
Shares of BPL Ltd, the small-cap consumer electronics company, surged more than 13.5 per cent in intraday trade on December 11 breaking previous week’s consolidation depicting positive momentum.