Bank Nifty quick buying and positive action in all banking stock
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Bank Nifty quick buying and positive action in all banking stock

Nifty

The Nifty futures closed positive with a gain of 1.94% at the 14,996 level. Among the specific stocks, Axis Bank, HDFC Bank, L&T Finance, CONCOR, Federal Bank, ICICI Bank, IDFC First Bank, Indus Tower, Bajaj Finance, SBI, Grasim, Tata Chemicals, L&T, Ultratech Cement, DLF saw a spurt in trade setup Has gone. NSE 2.42% and IndusInd Bank NSE 1.78% but weaker in Chola Finance, Powergrid, REC, Dr Reddy’s, McDowell, TCS and IGL.

The Nifty opened above the 14,700 marks and continued its momentum on a positive note for most of the session. However, a trading halt was seen on the NSE due to unforeseen circumstances, although it could not stop the bull run. The index picked up sharply in the second half of the session and was successful in achieving a psychologically significant 15,000 mark.

Bank Nifty

Bank Nifty opened with a gap and all banking stocks saw quick buying and positive action. It hit a high of 36,567 and ended the day with a big gain of over 1,300 points.
The index formed a strong bullish candle on the daily scale and ruled out the formation of lower highs and lows of the previous five sessions. It now needs to be above the 36,000 level to bounce towards the 37,000 and 37,250 levels, while the negative support is present at the 36,000 and 35,700 levels.

Asian Market

Shares fell in Asia on Wednesday as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies.

Hong Kong led the decline, losing 2% to 30,015.49. Tokyo’s Nikkei 225 closed down 0.8% to 29,923.82, Kospi’s 0.2% in Seoul at 3,065.56. Australia’s S&P / ASX 200 fell 0.9% to 6,778.40. The Shanghai Composite Index climbed 1.1% to 3,596.04.

US Market

Tuesday’s late-afternoon rash buying on Wall Street helped reverse most of the tech-focused sell-offs, overtaking the S&P 500 after losing a five-day streak to the S-P500.

The benchmark index gained 0.1% to close at 3,881.37. The Dow Jones Industrial Average also rose 0.1% to 31,537.35. The Nasdaq fell 0.5% to close at 13,465.20. The indices were at all-time highs in less than two weeks.

The shares of the small company fell more than the broader market. The Russell 2000 small-cap index slipped 0.9% to close at 2,231.21. This year’s largest index has returned from a 3.6% slide.

Oil

In other trade, US benchmark crude oil lost 52 cents to $ 61.15 a barrel in electronic trading on the New York Merchant Exchange. It fell 3 cents to $ 61.67 a barrel on Tuesday. International standard Brent crude dropped 39 cents to $ 64.09 a barrel.

Currency

The US dollar rose to 105.44 Japanese yen from 105.24 yen late on Tuesday. The euro climbed from $ 1.2150 to $ 1.2158.

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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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