ETMarkets Evening Podcast: What changed your financial fortunes all through the day
Hi there! Good Evening. This is Kshitij Anand from ETMarkets.com taking you through the facts and figures from Thursday's session on Dalal Street and bring you cues and trading tips from market veterans for tomorrow's trade.
It was a volatile day on D-Street, but bulls finally managed to get an upper hand. The Nifty50 closed 17 points higher at 8734 while the S&P BSE Sensex ended 85 points higher at 28,226.
The rally was prominent in broader markets. The S&P BSE Midcap index closed 0.9 per cent higher while the S&P BSE Smallcap index ended 0.95 per cent up.
In the sectoral landscape consumer durable, healthcare, IT, telecom and PSU stocks saw some gain while auto, capital goods, consumer discretionary stocks some profit booking decline.
So, what moved the market today? We have Ankit Agarwal - Fund Manager, Centrum Broking, giving us a lowdown.
Byte 1 Ankit Agarwal
On the derivatives front, maximum Call writing was seen in strike price 8,900, followed by 8,800. Maximum Put writing was seen in strike prices 8,700, followed by 8,600.
Fresh Put writing at lower strike prices pushed the market base higher towards strike 8,500 from 8,400 earlier.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory, Sharekhan. Over to you, Mr. Chandak.
Byte 2 Anup Chandak
On the technical front, Nifty50 formed a ‘Spinning Top’ kind of pattern on the daily candlestick charts. This candle is often regarded as a neutral pattern which suggests indecisiveness on the part of both bulls as well as bears and can be formed in an uptrend as well as in a downtrend.
The Nifty50 sold off from the critical resistance point of 8,753, as a result, it registered an indecisive pattern called Spinning Top suggesting a pause in the ongoing up trend.
Unless Nifty50 closes below 8,537, this market provides an opportunity on any dips. However, on the upsides, it needs to get past 8,757 levels to strengthen momentum further which may pave the way for bigger gains.
So does this technical setup signal a bullish undertone in the market? Sacchitanand Uttekar, Analyst-Technical at Motilal Oswal Securities Limited, explains.
Image 3
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
It was a volatile day on D-Street, but bulls finally managed to get an upper hand. The Nifty50 closed 17 points higher at 8734 while the S&P BSE Sensex ended 85 points higher at 28,226.
The rally was prominent in broader markets. The S&P BSE Midcap index closed 0.9 per cent higher while the S&P BSE Smallcap index ended 0.95 per cent up.
In the sectoral landscape consumer durable, healthcare, IT, telecom and PSU stocks saw some gain while auto, capital goods, consumer discretionary stocks some profit booking decline.
So, what moved the market today? We have Ankit Agarwal - Fund Manager, Centrum Broking, giving us a lowdown.
Byte 1 Ankit Agarwal
On the derivatives front, maximum Call writing was seen in strike price 8,900, followed by 8,800. Maximum Put writing was seen in strike prices 8,700, followed by 8,600.
Fresh Put writing at lower strike prices pushed the market base higher towards strike 8,500 from 8,400 earlier.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory, Sharekhan. Over to you, Mr. Chandak.
Byte 2 Anup Chandak
On the technical front, Nifty50 formed a ‘Spinning Top’ kind of pattern on the daily candlestick charts. This candle is often regarded as a neutral pattern which suggests indecisiveness on the part of both bulls as well as bears and can be formed in an uptrend as well as in a downtrend.
The Nifty50 sold off from the critical resistance point of 8,753, as a result, it registered an indecisive pattern called Spinning Top suggesting a pause in the ongoing up trend.
Unless Nifty50 closes below 8,537, this market provides an opportunity on any dips. However, on the upsides, it needs to get past 8,757 levels to strengthen momentum further which may pave the way for bigger gains.
So does this technical setup signal a bullish undertone in the market? Sacchitanand Uttekar, Analyst-Technical at Motilal Oswal Securities Limited, explains.
Image 3
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
