16 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 erased all the opening losses and turned positive on Monday. BSE Sensex jumped over 500 points from day’s low, crossing 53000 level, and NSE Nifty 50 index topped 15900. Ambuja Cements and ACC share prices were trading higher as Adani Group signed definitive agreements to acquire Switzerland-based Holcim Group’s entire stake in both cement firms. for about $10.5 billion. This is also the largest-ever acquisition by Adani, and India’s largest-ever M&A transaction in the infrastructure and materials space. Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, L&T, M&M, State Bank of India were top index gainers. On the flip side UltraTech Cement, Dr.Reddy’s, Nestle India, Bharti Airtel were among top BSE Sensex laggards. Bank Nifty jumped over 1 per cent to Rs 33,474.
Patterns continue to appear very bearish. The prospects of a breach of 15671 appear much higher this week. It would require a close above 15930 today, for bearish momentum to give way for consolidation or a short term pullback. Else, brace for 15400.
BSE Sensex and Nifty 50 were trading flat to positive in pre-opening session. BSE Sensex was up 120 points while NSE Nifty 50 index was ruling above 15800.
Stock exchange clearing houses mark settlement holiday today, 16 May 2022. On settlement holiday, trading in equity markets takes place as usual, but clearing and settlement remain shut for Payin and Payout of stocks and funds. It may be noted that the trading holiday is different from the settlement holiday as in the case of the former, stock markets remain closed and no trading takes place.
For the week, we expect Nifty to trade in the range of 16300-15200 with a negative bias .The daily and weekly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. Nifty Put options OI distribution shows that 15800 has highest OI concentration followed by 15500 & 15700 which may act as support for current expiry. Nifty Call strike 16000 followed by 16300 witnessed significant OI concentration and may act as resistance for current expiry.
0 Comment