Indian Stock Market: Nifty and Bank Nifty | 24th Jan


Nifty and Bank nifty views
Nifty and Bank nifty views for 24th Jan

Indian Stock Market: 



Today morning Indian stock market started in the flat note and after sharp selling in the last hour, Sensex closed at 36108.47 and Nifty at 10831. Bank Nifty fell 231.45 points and closed at 27250.80 at the end.

The week started with a positive note for the Indian equity market. On Tuesday, due to the concern of global economic slowdown Asian markets were down and so dragged the Indian stock markets. Sharp selling pressure was also seen in today's session in sectors like banking, auto, consumption, IT and Infra. 

In related to third-quarter earnings the heavyweight stocks Kotak Bank, Asian Paints have declared their result so far. The strong result has lifted both the stock initially after declaring their result. Today ITC also declared their third quarterly result, overall the result is good. Other heavyweight companies going to declare their third quarterly result in coming two trading session are Yes Bank, LT, and Maruti.


Top Five Gainers and Losers of the Day




Top 5 Gainers of the Day
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Sun Pharma.Inds. 431 418.95 12.05 2.88 679.30-370.20
Yes Bank 197.25 192.2 5.05 2.63 404.00-146.75
Zee Entertainmen 432.85 425.25 7.6 1.79 619.00-410.60
Tata Steel 464.6 456.55 8.05 1.76 754.38-455.00
Wipro 351.55 346.5 5.05 1.46 355.80-253.50












Top 5 Losers of the Day
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
ITC 277.3 289.75 -12.45 -4.3 322.95-252.50
Grasim Inds 782.15 804.35 -22.2 -2.76 1,247.55-756.00
Indiabulls Hous. 778.7 797.35 -18.65 -2.34 1,440.00-639.05
Titan Company 962.15 982.65 -20.5 -2.09 999.70-732.30
Infosys 731.65 745.35 -13.7 -1.84 754.90-545.10

Technical levels for tomorrow: Nifty and  Bank Nifty


Nifty Technical Levels for 24-01-2019

Primary Trend:  Sideways ( Mild Down)

Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 10885 whereas all down moves initiate Short Covering (Buy) @ 10805

If Nifty moves above 10860 then you should Buy with 1st Target of 10910 during the day with a Stop Loss of 10830 For the Target of 10910-10933-10957-10986

If Nifty moves below 10830  then you should Sell with 1st Target of 10780 during the day with a Stop Loss of 10860 FOR the Target of 10780-10757-10732-10703

Bank Nifty Technical Levels for 24-01-2019


Primary Trend: Sideways ( Mild Down)

Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 27400  whereas all down moves initiate Short Covering (Buy) @ 27195

If Bank Nifty moves above 27340 then you should Buy with 1st Target of 27465 during the day with a Stop Loss of 27250 For the Target of 27465-27530-27595

If Bank Nifty moves below 27250  then you should Sell with 1st Target of 27130 during the day with a Stop Loss of 27340 FOR the Target of 27130-27065-27000-26925


Conclusion:


Indian stock market for both the indices Nifty and Bank Nifty's primary trend has shifted from Bias Up to Mild Down. Tomorrow is Bank Nifty options weekly expiry and Yes Bank result. Traders are advised to remain in cautious trading in Bank Nifty and should also track global cues in the morning.


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Happy Investing!

Finogyan Team





Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.






Indian Stock Market: Nifty and Bank Nifty | 24th Jan Indian Stock Market: Nifty and Bank Nifty | 24th Jan Reviewed by Finogyan on January 23, 2019 Rating: 5

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