: Share Market Closing Bell: Nifty ends around 17,700, Sensex up 130 pts #IndiaNEWS #Business Today on last trading day of week ,Friday,Nifty ended flat amid volatility as traders are looking forward

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Share Market Closing Bell: Nifty ends around 17,700, Sensex up 130 pts #IndiaNEWS #Business
Today on last trading day of week ,Friday,Nifty ended flat amid volatility as traders are looking forward to CPI & IIP data. Nifty opened at 17659.65 level and made an intraday high at 17724.65 level as managed to close at 17698.15 with a gain of 39 points. While Bank nifty closed the session at 39042.30 with a gain of 162.45 points. Nifty PCR (Put Call ratio) of August month is at 1.39 suggesting the bulls are active.

On the sectoral front, Nifty energy & Commodities were up by 1.88 & 1.44% respectively while Nifty Pharma and Information Technology indices were down 1 percent each. India VIX closed at 17.61 down by 4.08%. In Nifty Stocks ,ONGC, TATATSTEEL, NTPC & UPL were the top gainers, While DIVISLAB, APOLLOHOSP, INFY & LT were the price laggards.
On the technical front, the Nifty has formed a bullish candle on the weekly chart which suggests strength in the counter. Nifty has been trading above 200-DMA as well as supper trend indicator which adds strength for upside. However, Nifty is facing resistance from falling trendline closing above the same can show further upside rally.
On the Nifty OI Data, On the call side, the highest was witnessed at 18000 while on the put side was at 17500 level. The momentum indicators MACD was trading with a positive crossover on a daily time frame which suggests strength in the counter. The support for nifty has shifted around 17500 levels while on the upside 17800 may act as an immediate hurdle. On the other hand, Bank nifty has support at 38700 levels while resistance at 39500 levels.
Overall, the index is looking strong for the upcoming week, every dip can be utilized as buying opportunity for quality stocks.
Despite long week end and holidays ,market closed firm which shows it is in strong hand.
Although small bounce and dip are utilised by traders to book profit.
Trade with very strict stop loss.
Bulls can relaunch the charge if anything very dramatic on negative side not happens.
Continue accumulating the quality n value buy.
Palak Kothari
Senior Technical Analyst
Choice Broking
Source: Choice India

Intraday stocks under 50 NSE India Twitter of India

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