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Dynamic Money Research's Daily Recommendation For Equity Market 5-10-2017
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MARKET WRAP FOR NIFTY & BANK NIFTY
Nifty ended at 9,872 level, down by 91 points, while Sensex closed at 31,626 level, down by 295 points on Monday. The 50-stock index remained subdued through the day but started recovering marginally in the closing hour. There were 341 advances, 1,341 declines and 296 unchanged stocks on NSE, reflecting strong negative sentiments floating in the market. India VIX ended higher by 3.98% at 13.32 level. In the broader markets, BSE Mid-cap index closed at 15,444 level, down by 165 points while BSE Small-cap index closed at 15,977 level, down by 315 points. Nifty trend will be consolidated in between the range of 9700-10000. Downside support for nifty will be 9700 if its break that level we will see the downside pressure again.
Bank Nifty ended at 24,165 level, down by 203 points or 0.84%. Federal Bank was the top loser in the index closing at Rs 111.4 per share, down by Rs 2.45 per share or 2.15%. 24000 is the most important level for bank nifty, if its breach that level downside pressure would be continue in future. If its take the support at that level ,some fresh buying position may be seen. Strategy for bank nifty is buy on dip and sell on rise.
INDIAN INDICES INDEX CMP Change %Chg NIFTY 9872.60 -91.80 -0.92 SENSEX 31626.63 -295.81 -0.93
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