Nifty - Technical Analysis:
-Benchmark index NIFTY traded positive today as it continued yesterdays move and moved upwards to 11600
-We are near the resistance zone and tomorrow can be decisive for further trends
-Tomorrow is expiry day and we can see some volatility
Market - Driving Factors:
-Among the sectoral indices, BSE Realty, Healthcare, IT and Auto logged healthy gains. On the flip side, BSE Utilities, Telecom, Power and Oil & Gas fell
-Addressing the FICCI National Executive Committee Meeting, Reserve Bank of India Governor Shaktikanta Das on September 16 assured that the RBI is closely monitoring economic situation, and the central bank is prepared to take further measures to prepare the economy and banking system to fight the COVID-19 pandemic.
-Further, bank credit growth remains muted in the system. He hoped that the revival of businesses (due to moratorium or restructuring) will help keep NPAs low.These reassuring statements helped the Nifty to rise towards the recent highs.
-FIIs inflows into Indian equities continued to be robust in August at nearly $6.3bn, highest in 5 years.
Nifty - Outlook for Thursday, 17th September:
NIFTY will test the resistance zone tomorrow along with the expiry day playing a trigger. We can see upper levels if sustains above 11600. Tomorrow is also expiry day for NIFTY, we can see some volatility early on during the morning session.
-Benchmark index NIFTY traded positive today as it continued yesterdays move and moved upwards to 11600
-We are near the resistance zone and tomorrow can be decisive for further trends
-Tomorrow is expiry day and we can see some volatility
Market - Driving Factors:
-Among the sectoral indices, BSE Realty, Healthcare, IT and Auto logged healthy gains. On the flip side, BSE Utilities, Telecom, Power and Oil & Gas fell
-Addressing the FICCI National Executive Committee Meeting, Reserve Bank of India Governor Shaktikanta Das on September 16 assured that the RBI is closely monitoring economic situation, and the central bank is prepared to take further measures to prepare the economy and banking system to fight the COVID-19 pandemic.
-Further, bank credit growth remains muted in the system. He hoped that the revival of businesses (due to moratorium or restructuring) will help keep NPAs low.These reassuring statements helped the Nifty to rise towards the recent highs.
-FIIs inflows into Indian equities continued to be robust in August at nearly $6.3bn, highest in 5 years.
Nifty - Outlook for Thursday, 17th September:
NIFTY will test the resistance zone tomorrow along with the expiry day playing a trigger. We can see upper levels if sustains above 11600. Tomorrow is also expiry day for NIFTY, we can see some volatility early on during the morning session.
