MORNING NIFTY AND BANK NIFTY UPDATE ( 2ND JAN 2020)
01/1/2020

MORNING NIFTY AND BANK NIFTY UPDATE ( 2ND JAN 2020)

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Indian equity benchmarks ended flat on the first trading day of the calendar year. The S&P BSE Sensex rose 0.13 percent or 52 points to end at 41,306.02 and the NSE Nifty 50 rose 0.12 percent or 14 points to close at 12,182.50. The broader markets represented by the NSE Nifty 500 Index rose 0.16 percent.

The market breadth was tilted in favour of buyers. About 1,017 stocks advanced and 735 shares declined on NSE. Six out of 11 sectors compiled by NSE ended flat, led by the NSE Nifty Media Index’s 0.52 percent fall. On the other side, the NSE Nifty IT Index was the top sector to gain by 0.45 percent.


NIFTY

According to Open Interest Data, the Maximum Call option open interest stands at 12300 ( contract wise ) and put option open interest stand at 12100( contract wise  )  suggests us immediate support and resistance level for the market. PCR stands at 12100 also validates our support level. Price may lose its upside momentum below 12200 for a target of 12150-12100.



BANKNIFTY

Maximum Call stand at 32500(on contract wise )  and Put at 32000(on contract as well as valuation wise)  strikes indicate immediate supports and resistance for the index.PCR stands at 32000 validate as a support level.





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Tags:Equity News, Morning Nifty Update, Equity Cash, Equity Future

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