MCX Support & Resistance Level

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Flat start on D-Street, Nifty below 10,800; Bank of Baroda up 3% on merger announcement

Market opens Equities have begun the day on a flat note, with the Nifty trading below 10,800. 

The Sensex is up 28.52 points or 0.08% at 35920.04, while the Nifty is down 2.20 points or 0.02% at 10790.30. The market breadth is negative as 268 shares advanced, against a decline of 139 shares, while 31 shares were unchanged.

Wipro, Sun Pharma, Coal India and Titan are the top gainers, while ONGC, TCS, and HPCL lost the most. 

Among sectors, there is a flat trend across all names. Pain is visible among infrastructure and metals. 

Source:https://www.moneycontrol.com/news/business/markets/stock-share-market-live-updates-bse-nse-flat-start-on-d-street-nifty-below-10800-bank-of-baroda-up-3-on-merger-announcement-3349001.html

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Opening Bell

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Closing Bell: Sensex ends over 350 points lower, Nifty gives up 10,800; autos, metal drag

Market at Close Equities have ended the session off low points, but still in the red. Weak global and domestic cues weighed on the indices. The Nifty managed to give up 10,800.

Weakness was visible among automobiles, banks, energy, metals and pharmaceuticals. The Nifty Midcap index, too, fell over a percent during the trade.  

At the close of market hours, the Sensex was down 363.05 points or 1.00% at 35891.52, while the Nifty down 117.60 points or 1.08% at 10792.50.

The market breadth is negative as 941 shares advanced, against a decline of 1,577 shares declined, while 169 shares were unchanged.

Sun Pharma and TCS were the top gainers, while Vedanta, M&M, Eicher Motors and JSW Steel lost the most.  

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-recovers-from-lows-nifty-around-10800-metal-stocks-lose-shine-3344731.html

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Nifty forms bearish candle, closes below 10,800; 10,777 crucial for bulls

The Nifty50 fell sharply on Wednesday after buying in last few sessions and closed tad below 10,800 levels following weakness in global peers and on profit booking.

All sectoral indices as well as broader markets caught in bear trap. Metal fell 3.4 percent on concerns of a slowdown in China and Auto lost 3 percent amid weak December sales while the Nifty Midcap and Smallcap indices dropped 1 percent each.

The weakness is likely to continue which could take the Nifty near 10,500 levels again, if the index trades below 10,923 levels, experts said.

The Nifty50 after opening lower at 10,868.85 followed by rangebound trade extended losses in afternoon and hit an intraday low of 10,735.05. The index managed to show some recovery from day's low but still ended sharply lower by 117.60 points at 10,792.50 and formed bearish candle on the daily charts

Source: https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-bearish-candle-closes-below-10800-10777-crucial-for-bulls-3347531.html

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Nifty can reclaim 11,250 if it closes consistently above 10,950: Narnolia

Bulls made a splendid comeback last week. This is in-line with the trend that markets are positive in Christmas week almost 95 percent of the time. It has been almost two months that markets are trading in a tight range of marked by Bollinger bands. Recently, Nifty touched lower band around (10,540), from there it is moving towards upper band which is currently placed around 11,050.

Nifty has given a breakout of Cup and Handle pattern in a lower time frame and the target as per pattern is placed around 11,250, which looks possible on daily closing above major resistance of 10,950.

ADX indicator is still trading around 17, which is below crucial levels considered for trending market, expresses no strength in the current trend. However, weekly RSI is placed near 50 from the last five weeks. It indicates that sideways to positive momentum is intact. At the same time, VIX closed lower in this week around 15.27 suggesting average movement will continue.

Source:https://www.moneycontrol.com/news/eye-on-india/videos/buy-or-sell-stay-cautious-stock-specific-book-profits-on-every-rise-3338761.html

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MCX Support & Resistance Level

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