Indian Stock Market: Sensex and Nifty are Bullish | Bank Nifty at Record High

Sensex,NIfty and Bank Nifty at record high
Indian Stock Market: Sensex, Nifty and Bank Nifty

Sensex and Nifty are bullish, Bank Nifty is on a record high, bulls took the charge on Indian Stock Market. The benchmark indices rose for three consecutive days in a row in this week. The IIP and CPI data released yesterday was not encouraging, the IIP growth slows to 1.7 percent and CPI rises marginally to 2.57 percent.

Today morning the Asian Market was not supportive and so the domestic market opened on flat to negative. In the afternoon it got positive momentum, at the end Sensex gained 216. 51 points and Nifty rose by 40.50 points. Bank Nifty was looking strong from the morning session itself, the private bank space lifts the Bank Nifty 440.60 points in today session and closed at 28884.30 on spot basis. Some minor correction is seen in mid and small cap space today.
  


A strong rally in Indian Stock Market is seen because the street is expecting Modi Government to come in power in 2019 Lok Sabha election. The other factors which make the market strong are FII's fund inflows, stable crude price, rupee appreciation against the dollar and the most important is there is no major negative news in the market.


Nifty 50 Stocks top Gainers and Losers of the Day



Top 5 Nifty 50 Stocks Gainers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
IndusInd Bank1,636.351,569.0567.304.292,038.00-1,333.15
Yes Bank244.30235.858.453.58404.00-146.75
Bajaj Fin.2,828.152,753.0575.102.732,994.00-1,615.20
HDFC Bank2,226.552,171.0055.552.562,234.00-1,833.50
H P C L267.85261.856.002.29385.50-163.00
Top 5 Nifty 50 Stocks Losers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
Bharti Airtel337.75 351.80 -14.05 -3.99 429.80-276.85
Vedanta171.60 178.45 -6.85 -3.84 324.00-145.80
I O C L148.75 154.10 -5.35 -3.47 206.45-105.25
Zee Entertainment448.80 463.60 -14.80 -3.19 609.75-288.30
Sun Pharma.Inds.456.50 470.30 -13.80 -2.93 679.30-370.20

Indian Stock Market Outlook for Tomorrow: Nifty and Bank Nifty

Tomorrow is Nifty and Bank Nifty weekly option expiry, the market will be volatile. The WPI data is also expected to be released at 12 pm during market hour tomorrow can expect volatility after the data released. Nifty and Bank Nifty both are uptrend on the technical chart but at any moment profit booking or small correction can be seen.


Technical Outlook of Nifty and Bank Nifty Future for tomorrow



Primary Trend of Nifty Future:  Up Real-Time Volatility of  9.0417% (Range of 75.5 Points)


Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 11400 whereas all down moves initiate Short Covering (Buy) @ 11345


If Nifty future moves above 11383 then you should Buy with 1st Target of 11415 during the day with the Stop Loss of 11360  For the Target of 11415-11432-11448 -11470


If Nifty future moves below 11360  then you should Sell with 1st Target of 11330 during the day  with the Stop Loss of 11383 FOR the Target of 11330-11310-11295- 11275


Primary Trend of Bank Nifty Future:  Up Real-Time Volatility of 12.5153% (Range of 265.50 Points)



Bank Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 29125  whereas all down moves initiate Short Covering (Buy) @ 28775


If Bank Nifty future moves above 29016 then you should Buy with 1st Target of 29230 during the day with the Stop Loss of 28883   For the Target of 29230 -29338 - 29445 - 29578


If Bank Nifty future moves below 28883  then you should Sell with 1st Target of 28670 during the day with the Stop Loss of 29016  FOR the Target of 28670 - 28560 - 28453 - 28320


Conclusion:



Both Nifty and Bank Nifty trend is up, the Indian stock market will open as per global cues tomorrow. Nifty and Bank Nifty would be volatile tomorrow due to weekly options expiry. As WPI data is expected to be released at 12 pm, traders should remain cautious during that time.




If you like the post please don't forget to share with others.


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 is not SEBI registered Advisors and 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: Sensex and Nifty are Bullish | Bank Nifty at Record High Indian Stock Market: Sensex and Nifty are Bullish | Bank Nifty at Record High Reviewed by Finogyan on March 13, 2019 Rating: 5

No comments:

Nifty and Banknifty chart ahead of the Lok Sabha election result 2019

Indian stock market bounced back in the last two days of the week ahead of Lok Sabha election result 2019. On a weekly basis, Sensex gaine...

Powered by Blogger.