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NIFTY Ended At A Record Closing High For The 4th Straight Week Amid Global Cues

By Sanjana DixitMarket OverviewJan 12, 2018 19:00
in.investing.com/analysis/nifty-ended-at-record-closing-high-for-the-4th-straight-week-amid-global-cues-200199942
NIFTY Ended At A Record Closing High For The 4th Straight Week Amid Global Cues
By Sanjana Dixit   |  Jan 12, 2018 19:00
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The 50-share NSE index NIFTY surged 0.28% to settle at record closing high of 10681.25 in the last trading session of the week. NIFTY toppled for the moment in the afternoon trade after four of India’s senior-most judges of the Supreme Court raised concerns over the administration of the apex court. Indian shares posted sixth straight weekly gain and sketched new peaks on the record setting run as investors begun 2018 with optimism over last year’s rally.

Looking overseas, European market trading higher on Friday taking cues from the Asian markets which closed mostly higher in the last trading session of the week. The worldwide equity markets posted weekly gains and scaled new peaks as investors prompted over upbeat economic data from China and the U.S. on the back of optimism over global economy.

Among sector gauges compiled by NSE, NIFTY MEDIA SURGED 1.71% along with NIFTY METAL and NIFTY PVT BANK as top gainers. On the flip side, NIFTY REALTY plunged 1.46% along with NIFTY FMCG as top losers.

From the NIFTY 50 basket of shares, ZEEL, ICICIBANK, VEDL and INFRATEL topped the table as top gainers while UPL (NS:UPLL), LUPIN, BOSCHLTD, AMBUJACEM and BHARTIARTL are the top losers.

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TVSMOTOR: This stock is regularly breaking low for 3 days and trading volume inflated by 95% on 12 January 2018. This stock surged by 6.25% to settle above the recent support zone at Rs.749.10 indicating for the bearish trend. The Near term resistance for this stock is around Rs.790.

JISLJALEQS: This stock advanced by 2.19% and finished at Rs.142.45 on Friday. The intensity of the bulls is visible through the unfilled gap and the trading volume increased by 2.5 times the average trading volume. This stock is continuously heading higher levels for 3 days and it is likely to witness the bullish trend.

JUSTDIAL: This stock is frequently advancing for 3 days and registered considerable gains in last five sessions. This stock surged by 4.15% to settle above the recent resistance zone at Rs.607.85 indicating for the positive breakout. The short term support for this stock is around Rs.485.

DISHTV: This stock declined by 6.75% and finished at Rs.78.1 on Friday. The intensity of the sellers is visible through the opening gap and the trading volume increased by 5 times the average volume. This stock is steadily scaling down for 3 days and it is likely to witness the short-term selling pressure.

SRF (NS:SRFL): This stock rallied 3.66% and the trading volume increased 2 times on Friday. Though numerous trades are intraday in nature this stock is heading for bullish trend formation. This stock is currently settled at Rs.2008.15 above the recent resistance zone and the short term support is around Rs.1834.

IDFCBANK: This stock trading volume increased by 2 times the average trading in today’s trade. The short term selling pressure is expected as Technical indicator RSI indicates overbought scenario defended by the increased trading volume .This stock is currently settled above the recent resistance zone and the short term support is seen around Rs.52.

SUNTV: This stock strengthened by 3.21% and finished at Rs.1077.1 on Friday. The intensity of the bulls is visible through the opening gap and increase in the average trading volume. This stock is likely to continue its bullish trend as it currently settled above the recent resistance zone and the short term support is around Rs.914.

KTKBANK: This stock surged 2.74% and the 7 times the increased trading volume, in that majority of trades intraday in nature on Thursday. This stock likely to witness bullish rally as it settled above the recent resistance zone at Rs.167.1 and the short term support is around Rs.146.

GRANULES: This stock weakened by 1.81% and to close at Rs.144.1. in today’s trade. The short term selling pressure is expected as Technical indicator RSI indicates overbought scenario defended by the increased trading volume .This stock is currently settled above the recent resistance zone and the short term support is seen around Rs.125.

Detailed analysis by Eqsis

NIFTY Ended At A Record Closing High For The 4th Straight Week Amid Global Cues
 

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NIFTY Ended At A Record Closing High For The 4th Straight Week Amid Global Cues

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