05 Sep , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were trading nearly half a per cent up on Monday. BSE Sensex was trading 210 points or 0.4 per cent to 59,010, NSE Nifty 50 was ruling 0.4 per cent up at 17,617. Tech Mahindra, Kotak Mahindra Bank, ICICI Bank, HCL Tech, Reliance Industries, NTPC, Axis Bank, State Bank of India were among top S&P BSE Sensex gainers. Nestle India, Dr. Reddy’s, Hindustan Unilever, M&M, Power Grid Corporation of India among top index losers. Index heavyweights such as Reliance Industries, ICICI Bank, ITC, Axis Bank contributed the most to the indices gain. Nifty Bank index gained more than 0.6 per cent to 39,666 on Monday.
Nifty Bank index gained more than 0.6 per cent to 39,666 on Monday
BSE Sensex was trading 210 points or 0.4 per cent to 59,010, NSE Nifty 50 was ruling 0.4 per cent up at 17,617
The Nifty has seen a sharp sell-off from the levels of 17992. There were three days sell-off of till 17345. Post that there was pullback till 17726 which also got sold off till 17166. It is the first indication of resistance in place near 18000 levels and any bounce below 18000 levels can be utilized to go short. On the last day of the week, the market witnessed a sell-off in closing hours. It is a clear indication of the current bear market rally has come to halt. As far as RSI(14) and 9 EMA the same is started moving below 70 levels. The super trend (8,2.25) is also shifted above the current bars. So, there are multiple indications that the bears may take charge very soon.
Nifty has formed an Inside Bar on daily scale but a Bullish candle on weekly frame with long upper shadow. Now, it has to hold above 17550 zones, for an up move towards 17667 and 17777 zones whereas support is placed at 17442 and 17350 zones.
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