ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?
  • Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July
  • Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM
  • Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

Equity trade alert: Nifty outlook for Thursday

Nifty is trading range-bound in between 10,700 to 10,900. Any movement above 10,900 can be an indicator of the bull run at the Indian indices or below 10,700 levels a run for the bear.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Equity trade alert: Nifty outlook for Thursday
Despite the range, bound movement, Nifty has again managed to close above 10880 which indicates that the triangle breakout is still intact and Nifty has a potential to sneak above 11000 mark. Photo source: Reuters

After a sharp rally of Tuesday’s session was followed by sideways action during Wednesday's session. After a marginal upside gap opening the benchmark indices remained range bound to close flat. Index Nifty, oscillated in a band of 50 points to end the session with negligible gain. Meanwhile, even the Nifty bank index displayed lethargic moves. In short, it was more of a consolidation session. The market breadth remained extremely strong right from the beginning of the session due to broad-based buying. On the sectoral front, we witnessed a mixed bag of the picture wherein NIFTY MEDIA (-0.85%) stocks remained the biggest laggards whereas NIFTY PSU BANK (+0.60%) counters gained the most. From the F&O space, JETAIRWAYS (-14.81%), CUMMINSIND (-4.38%) and INFIBEAM (-3.91%) were the worst performers.

The market breadth remained extremely strong right from the beginning of the session due to broad based buying. On the sectoral front, we witnessed a mix bag of picture where in NIFTY MEDIA (-0.85%) stocks remained the biggest laggards whereas NIFTY PSU BANK (+0.60%) counters gained the most. From the F&O space, JETAIRWAYS (-14.81%), CUMMINSIND (-4.38%) and INFIBEAM (-3.91%) were the worst performers.

Mehul Kothari, Senior Technical Analyst, IndiaNivesh told in a written statement, "Despite the range, bound movement, Nifty has again managed to close above 10880 which indicates that the triangle breakout is still intact and Nifty has a potential to sneak above 11000 mark. However, we also maintain our stance that 11200 still remains a very strong hurdle for the bulls. Thus we would advise traders to start booking profits once index arrives near that zone. As of now, the support of 10620 has now been shifted to 10690. Only a move below the same might dwell the ongoing momentum. For the coming sessions, 10925 and 10770 would remain an intermediate resistance & support respectively for the markets. Currently, we advise traders to trade with a positive bias but avoid any overleveraged positions and follow strict stop loss."

Standing in sync with Mehul Kothari; Anindya Banerjee, Analyst at Kotak Securities told Zee Business online, "Nifty is trading range-bound in between 10,700 to 10,900. Any movement above 10,900 can be an indicator of the bull run at the Indian indices or below 10,700 levels a run for the bear. However, I will bet on the same range movement of the Indian markets till elections are over. Much will depend upon the Indian Lok Sabha results."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
BSE SensexNiftyMarkets
Written By: Asit Manohar
Updated: Thu, Jan 17, 2019
08:55 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Opening Bell: Nifty slips below 15,700, Sensex sheds over 350 points; Auto, Consumer Durables worst hit Opening Bell: Nifty slips below 15,700, Sensex sheds over 350 points; Auto, Consumer Durables worst hit
Rupee gains 5 paise to close at 78.98 against US dollar Rupee gains 5 paise to close at 78.98 against US dollar
Closing Bell: Nifty below 15,800, Sensex ends flat; Metal, IT, auto stocks top losers  Closing Bell: Nifty below 15,800, Sensex ends flat; Metal, IT, auto stocks top losers
Opening Bell: Nifty, Sensex start flat; energy, metal, IT stocks shine Opening Bell: Nifty, Sensex start flat; energy, metal, IT stocks shine
Rupee falls 18 paise to close at all-time low of 79.03 against US dollar Rupee falls 18 paise to close at all-time low of 79.03 against US dollar

LATEST NEWS

OnePlus Nord 2T 5G price in India starts at Rs 28,999 - Check offers, availability and specifications

GST Council Meeting Outcome: Big boost for Rakesh Jhunjhunwala's stock as sewage treated water gets exemption from GST

US stocks see worst first half drop in over 50 years

Toyota Hyryder unveiling event starts: Check live streaming link here

Covid-19 Report: Active Covid cases rise to 1,07,189 in-country

Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city

OnePlus Nord 2T 5G India launch today: Check expected price, specifications and more

Opening Bell: Nifty slips below 15,700, Sensex sheds over 350 points; Auto, Consumer Durables worst hit

PAN-Aadhaar Link: Don't know if your PAN linked with Aadhaar? Check steps here now or else pay double penalty from July 1

Excise duty on petrol, diesel, ATF hiked up to Rs 12; details

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV