Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 16th April 2018
Nifty 10480/Sensex 34192/ Bank Nifty 25200
26 Advances / 23 Declines/ 1 Unchanged
Sensex, Nifty settle at over 6-week high on upbeat macro data
Domestic stocks logged modest gains in a volatile trading session led by gains in index heavyweights Reliance Industries, HDFC and Infosys.The Nifty 50 index rose 21.95 points or 0.21% to settle at 10,480.60. Extending gains for the seventh straight trading session, the Sensex and the Nifty, both, settled at their highest level in over six weeks. Sentiment was boosted by upbeat domestic macro economic data showing robust rise in factory output in February and decelerating retail inflation in March.
Key indices opened higher and hit fresh intraday high in afternoon trade. Stocks sharply pared gains as sudden selling pressure emerged in afternoon trade. The indices gradually recovered and ended with decent gains. The Nifty 50 index rose 21.95 points or 0.21% to settle at 10,480.60, its highest closing level since 28 February 2018. The Nifty rose 61.25 points, or 0.59% at the day's high of 10,519.90 in early afternoon trade. The index fell 7.20 points, or 0.07% at the day's low of 10,451.45 in mid-afternoon trade.
Source: Capital line
FII’s Activity 13th-April -2018
The FIIs and DII data as per Thursday
In FII segment, the buy value was of Rs 4713.7 while sell value Rs 4344.8 and Net buyer of Rs 368.9 crore.
In DII segment, the buy value was of Rs 3262.6 while sell value Rs 3878.41 and Net seller of Rs 615.81 crore.
Now what to expect ??
Resistance at 10550 & Support at 10400
Break and sustain above 10550 will take to 10680---10750 marks else it could touch its support level of 10400 again.
Below 10400 will see more downside panic till 10250---10180 and then to 10080 marks
Resistance at 25400 & Support at 25000
Break and sustain above 25400 will take to 25750---25900 marks else it could touch its support level of 25000 again.
Below 25000 will see more downside panic till 24600---24400
MFSL -Top Pick (16th Apr 2018)
Sell MFSL below 434 with stop loss above 451 (on a closing basis) Target 420---415.
More will update soon !!