Stock Market News: Sensex,Nifty continue to touch new high

Stock Market News, Sensex, Nifty new high
Stock Market News: Sensex & Nifty Continue to touch New High


After a positive indication of the Asian market on Tuesday morning, the Indian stock market opened gap up. Nifty and Sensex touched new high and ended on a strong positive note on Tuesday. In the end, Nifty was up 96.80 points and Sensex gained 369.80 points closed at 11787.20 and 39275.64 respectively. Nifty requires another 212.80 points to touch the magic figure 12000

Bank Nifty also gained 427.10 points and closed at 30531.35 almost near the all-time high.  Private banks were the major gainers on Tuesday whereas PSU banks were the loser for the day. Mid-cap and small-cap indexes were closed almost on a flat note. All the points mentioned above are on a spot level basis.

Can Nifty touch 12000 in April?

Market analysts are expecting more new highs in coming days for Sensex and Nifty and also set a target for Nifty close to 12000. On the sectoral front, except PSU banks, Real estate, and Consumer durable all other sectors ended in green on Tuesday. Indian stock market made a new high yesterday after the announcement of “near normal monsoon" by IMD. The other factors which have made the market positive are positive global cues and inflows from both FIIs and DIIs. If all these factors remain positive for a few more days then we can definitely expect 12000 Nifty in April.


Wipro has announced its Q4 result after the market on Tuesday. Its profit dips 1 percent to Rs 2480 Cr. The company has decided to buy back its shares worth up to Rs 10,500 Cr. Board has approved share buyback for up to Rs 32.3 crores of shares at Rs 325 per share. Reliance will announce its Q4 result on Thursday the 18th  of April.

Also ReadHow to protect your Portfolio and Make Money from the Stock Market Crash


Nifty 50 Stocks: 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 Bank1,815.151,748.9066.253.792,038.00-1,333.15
ICICI Bank407.00392.7514.253.63409.55-256.50
Titan Company1,120.051,090.1529.902.741,152.00-732.30
O N G C160.45156.454.002.56192.00-127.60
Adani Ports395.65387.058.602.22415.65-292.10
Top 5 Nifty 50 Stocks Losers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
Wipro280.90 287.70 -6.80 -2.36 291.71-190.13
Cipla559.35 566.30 -6.95 -1.23 678.45-483.75
GAIL (India)351.60 354.05 -2.45 -0.69 399.40-295.25
Power Grid Corpn196.85 198.05 -1.20 -0.61 216.00-172.50
Tata Motors230.50 231.75 -1.25 -0.54 352.80-129.00


Today Indian stock market is Holiday on account of Mahavir Jayanti. Tomorrow is weekly options expiry and then there will be a long holiday again and the market will open on Monday. Let us now check the Technical Outlook of Nifty and Bank Nifty Future for tomorrow.

Primary Trend of Nifty Future:   Bias Up

Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 11899 whereas all down moves initiate Short Covering (Buy) @ 11721


If Nifty future moves above 11836 then you should Buy with 1st Target of 11862 during the day with the Stop Loss of 11809  For the Target of 11862-11880-11899- 11942


If Nifty future moves below 11791  then you should Sell with 1st Target of 11772 during the day with the Stop Loss of 11810 FOR the Target of 11772-11746-11721- 11676

Primary Trend of Bank Nifty Future:  Up (Volatile )

Bank Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 30920  whereas all down moves initiate Short Covering (Buy) @ 30241


If Bank Nifty future moves above 30642 then you should Buy with 1st Target of 30763 during the day with the Stop Loss of 30521  For the Target of 30763 -30842- 30920 - 31120.


If Bank Nifty future moves below 30442  then you should Sell with 1st Target of 30363 during the day with the Stop Loss of 30520  For the Target of 30363 - 30242 - 30121 - 29920


Conclusion:



At present both Nifty and Bank Nifty trend looks very strong. Nifty is approaching towards 12000 and Sensex at 40000, Bank Nifty particularly Pvt banks are very strong and ready to touch a new record high. The market sentiment and all other cues are positive and it looks like the momentum will continue till election result. Traders are advised to trade cautiously as the market is on the peak.




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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 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.

Stock Market News: Sensex,Nifty continue to touch new high Stock Market News: Sensex,Nifty continue to touch new high Reviewed by Finogyan on April 17, 2019 Rating: 5

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