Nifty 8074 /Sensex 26150/ Bank Nifty 18959
28 Advances / 23 Declines/ 0 Unchanged
“Sensex ends at 6-month closing low, sinks for 4th straight week”
After oscillating in a 242 points range, the BSE Sensex ended at 6-month closing low on Friday as investors continued to avoid taking fresh positions. The currency market was under pressure as FIIs buying dollar after Federal Reserve chair Janet Yellen hinted rate hike likely in December.
The 30-share BSE Sensex was down 77.38 points at 26150.24, the lowest closing level since May 25. The 50-share NSE Nifty lost 5.85 points to 8074.10 after breaking 8050 level intraday. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.6 percent and 0.25 percent, respectively.
Experts expect the consolidation to continue for couple of weeks before initiating a bounce. However, if the rupee falls further from here on, then selling pressure is likely, they feel.
The market, after days of uncertainty and volatility, will finally stabilise in the first week of December, says Sanjiv Bhasin of IIFL. He suggests buying at current levels.
According to Sudip Bandyopadhyay of Inditrade Capital, the demonetisation pain could last for not more than 3-4 quarters.
Benchmark indices fell for the fourth consecutive week, majorly weighed by FIIs selling amid US elections and ahead of Federal Reserve's December policy. The Sensex lost 2.5 percent this week and 7 percent in last four weeks. FIIs net sold Rs 14,000 crore worth of shares (till November 17) since October.
Meanwhile, the rupee breached 68 against the US dollar on fears of likely rate hike by Federal Reserve in December policy. It was trading at 68.12 a dollar, down 30 paise from previous settlement.
“Fed's Bullard says leaning toward supporting December rate hike”
Federal Reserve policymaker James Bullard is leaning toward supporting an interest rate increase in December and argued on Friday that the real question now is the Fed's rate path in 2017.
Markets are currently putting a high probability on a December move by the FOMC. I’m leaning toward supporting that," Bullard, a voting member of the U.S. central bank's rate-setting committee, told a conference in Frankfurt. "I think the question now is more about 2017."
FII/FPI & DII trading activity on NSE, BSE and MSEI
FII/FPI trading activity on NSE, BSE and MSEI on Capital Market Segment.
The following is combined FII/FPI trading data across NSE, BSE and MSEI collated on the basis of trades executed by FIIs/FPIs
FII/FPI trading activity on NSE,BSE and MSEI in Capital Market Segment(In Rs. Crores)
Category: FII/FPI Date: 18-Nov-2016
Buy Value: 4112.43
Sell Value: 5038.75
Net Value:-926.32
-Domestic Institutional Investors trading activity on NSE, BSE and MSEI on Capital Market Segment
The following is combined Domestic Institutional Investors trading data across NSE, BSE and MSEI collated on the basis of trades executed by Banks, DFIs, Insurance, MFs and New Pension System
DII trading activity on NSE,BSE and MSEI in Capital Market Segment(In Rs. Crores).
Category: DII Date: 18-Nov-2016
Buy Value: 2641.1
Sell Value: 1497.66
Net Value:1143.44
Key Results Today
Ingersoll Rand
NALCO
Sobha
*Important Result : SOBHA
Technical Levels: SOBHA
SOBHA CMP 240 has immediate support at 230 levels and resistance at 245. Close above 245 will take to 258---265+++ mark else it could test it's support level of 230 again. Further downside panic will see only close below 230 mark.
Now what to expect??
Nifty and Bank Nifty Levels
Nifty has immediate support at 8050 and resistance is at 8140.
A move and sustain below 8050 will take to 7980---7930. Further downside panic will see only close below 7930 mark else it could test its resistance level of 8140 again.
Above 8140 next resistance seen around 8190—8230
-On the other hand, Bank Nifty has immediate support 18850. Below 18850 it can test 18600--18450. Further downside panic will see only close below 18450.
Else it could test it's resistance level of 19250 again. Further upside rally will see only close above 19250 mark
Today's Top Pick
Trade with levels only. More will update during market hours
More will update soon!!
