Today stock market is open in green after some time it was on some fluctuations which is going on the narrow range. Meanwhile it witnessed an extended the selling in the second half. In the market analyst I observe we have to take a wait and watch approach. Because of some announcements of companies which are affect mute of shares. If you see market briefly you understand it was the situation of inflation. Nifty, bank nifty and fin nifty all are in negative note when I see market fluctuations I thought it was not a right time to take trades. With most sectors ending in the red, Realty, Metal, Auto and PSU Bank dragged in today’s trading session. Media shined with IT, Parma and FMCG too ending in the green. This signs some of weakness in the economy.
Technically, on weekly charts the Nifty has formed a long bearish candle which is largely negative. After a short term correction the Nifty has been consistently taking support near the 200-day SMA (Simple Moving Average). The Sensex was up 41.79 points or 0.07 percent , and the Nifty was up 0.30 points. The top gainers on Nifty 50 were HCL Tech, UPL, Divis Lab, HDFC Life and Kotak Bank while the top losers were Tech Mahindra, Eicher Motors, Tata Steel, JSW Steel and Tata Motors. So far the bulls have been hold the nifty which is considered the long term investment. However The Bank Nifty index witnessed a volatile trading session. In stock market analysis we can see that nifty continues to time correction at close of the day.