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Technical Analysis Today

Today share market opened positively like today was end of financial year so today market is up with Sensex 1031 points higher or nifty points 17450. The votaility and accuracy in the market is higher than some previous  days. I felt the positivity of the stock market when I traded futures and options.

Among the sectors, all sectors indexes are trading higher. The sectors that are leading the rally at this moment are Energy, IT, and Bank. Top gainers on Nifty included Reliance Industries, Nestle India, Infosys, ICICI Bank and Tata Motors, while losers included Apollo Hospitals, Adani Ports, Sun Pharma, Asian Paints and Bajaj Finance. Nifty witnessed continuation of positive momentum from the previous trading session and closed the day on with handsome gains of ~280 points. On the daily charts we can observe that the Nifty has managed to close above the 20-day moving average which is a sign of strength. It was good startup for April month. When I was doing f&o trading in options I felt strength in todays market.

On the other hand more than 200 stocks touched their 52-week lows including Jet Airways, Vodafone Idea, Ujaas Energy, Tide Water Oil, Sadbhav Engineering, Punjab Chemicals, Rolta India, Madhucon Projects, Housing Development. It was good sign for price rising in next month.

At close, the Sensex was up 1,031.43 points or 1.78% at 58,991.52, and the Nifty was up 279.10 points or 1.63% at 17,359.80. About 2322 shares advanced, 1145 shares declined, and 108 shares unchanged.

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