Pre-Market Friday! Asian market positive territory Nifty50 on the SGX were trading at 10381 +6 points on indicating flat opening for the NSE.
The Nifty advanced 48.45 points or 0.47% to settle at 10,343.80, its record closing high. The index rose 60.30 points or 0.58% at the days high of 10,355.65 in late trade. The index declined 23.50 points or 0.22% at the days low of 10,271.85.
The biggest gainers of the session on the Nifty50 were Bharat Petroleum Corp. Ltd. which rose 5.23% or 26.65 points to trade at 536.45 at the close. Indian Oil Corporation Ltd added 4.61% or 19.25 points to end at 436.50 and Hindustan Petroleum Corporation Ltd was up 4.04% or 18.70 points to 481.20 in late trade.
Biggest losers included HCL Technologies Ltd, which lost 4.19% or 38.00 points to trade at 869.05 in late trade. Indiabulls Housing Finance Ltd declined 2.23% or 28.45 points to end at 1248.25 and ICICI Bank Ltd shed 2.11% or 6.45 points to 299.25.
The breadth, indicating the overall health of the market, NSE 1308 fell and 1348 advanced, while 144 ended unchanged.
Rupee desk: The USD/INR was down 0.12 to 64.82
CASH FLOW ANALYSIS
FII DII Activity 26 October 2017, In the cash market today, FII’s sold 375 crores stock whereas DII’s sold 523 crores worth of stock. In the derivative market, FII’s sold 514 crore of Index futures and bought 2063 crores worth of Index options. In the Stock futures segment, FII’s bought 836 crores worth of stock futures and sold 39 crores stock options.
Technical outlook
Trading Pattern analysis according to the previous session, Nifty movement forms bullish candle “RISING WEDGE” pattern. This indicates bullish sentiment in the market. As we suggested yesterday, nifty can target 10,400 as it have closed above 10,280. So one can ride this rally by keeping a tight stop loss at 10,250 target 10400- 10500.
Technical Chart:
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