Equity Market Tips: EQUITY TECHNICAL REPORT

NIFTY 50 8139.45 (-122.30)↓(-1.48%)

Nifty started the week on a negative note and fell 31 points on Monday. The Nifty opened gap down at 8230 and Nifty ended the day in red, nifty indices dropped by 1%. Nifty fall around 90 points from Friday closing and made a low at 8154 to finally close at 8171. On Tuesday, The Nifty opened at 8196 and made a low of 8155, just 1 point short of its previous day low of 8154. A sharp buying was seen in the Index by 75 points made a high of 8228 to finally close on a positive at 8221. On Wednesday, The Nifty traded with high volatility in a small range of 64 points. It's a positive start as it slipped 45 points while the Nifty traded below the key 8,200-level as caution set in before the Federal Reserve rate decision later in the day. On Thursday, After the American Federal Reserve decided to raise the benchmark interest rate for the first time this year, the nifty fell 54 points opened at 8128 and rose sharply by 104 points in first 35 mins of trading. Nifty opened gap down at 8128 and made a low of 8122 followed by a sharp buying to make a high of 8225. On Friday, Market was highly volatile with the market looked to settle down. It was a complete choppy session, as the market was seen grinding in a narrow 25 point trading range especially in the second half. The Nifty50 (spot) opened the week at 8230.65, made a high of 8230.65 low of 8121.95 and closed the week at 8139.45. Thus the Nifty closed the week with a losing of -122.30 points or -1.48%.