DSIJ Mindshare

The markets on December 26, 2018 opened gap down. BSE Sensex is trading at 35,219.85, down by 250.30 points and the Nifty is trading at 10,596.55, down by 66.95 points. 

After touching a high of almost US$ 84 for a barrel in the September month, crude oil prices are now falling and presently is near US$ 50 a barrel. One of the reasons for this oil price plunge is excessive supply from US. 

Overall volumes in futures & options currently stand at 1.49 crore contracts with a turnover of Rs. 9,38,436.13 crore.

Overall volumes in futures & options currently stand at 1.49 crore contracts with a turnover of Rs. 9,38,436.13 crore.

Going ahead, the zone of 10580-10570 is likely to act as crucial support for the index as it is the confluence of 50-day simple moving average. Failure to hold this support would lead to further correction up to the level of 10500, followed by 10450. On the upside, the 200-day moving average is likely to act as immediate hurdle which is currently placed around the level of 10767. Stocks in news: GODREJ INDUSTRIES, SHREE CEMENT, MANALI PETRO, CEAT Ltd, RANE ENGINEERS, HESTER BIO, NAGARJUNA FERTILISERS