Equity Market Tips: February 2017

The benchmark Index Nifty opened flat from Friday’s close of 8641. Nifty traded in a narrow range of 45 points throughout the day. However, Nifty closed at 8633 on Monday. On Tuesday, The benchmark Index Nifty in closing hours is struggling to touch 8600 levels on the higher side, Nifty fell 80 points from the day high of 8632 and making a low of 8552, before closing at 8561. On Wednesday, the Indian benchmark index Nifty opened flat from yesterday’s close of 8561, After the Finance Minister Mr. Arun Jaitley announced the Union Budget, in which he left the Long Term Capital Gains and Short Term Capital Gains Tax rates unchanged. Nifty surged by 155 points from its previous days close, Nifty made a high of 8722 and closed at 8716. On Thursday, Indian benchmark index Nifty opened flat from yesterday’s close of 8716. There was some consolidation In trading session; Nifty traded in a range of 71 points between its Intraday high and low of 8758 and 8686 and finally closed at 8734, 18 points above its previous day’s close. We had recommended in last week research report (see our weekly report 30 Jan 3 Feb 17) Nifty future buy on deep around 8600 targets will be 8750-8900. our level executed on 31 Jan 17. OUR TARGET ACHIEVED ON THURSDAY 2 FEB 2017 NIFTY MADE HIGH AT 8606.40]. On Friday, The benchmark Index Nifty opened flat from Thursday's close of 8734 and take a resistance level of 8748; however ended with 6 point gain at 8740. The benchmark Index Nifty50 (spot) opened the week at 8635.55, made a high of 8757.60 low of 8537.50 and closed the week at 8740.95. Thus the Nifty closed the week with a gained of 99.70 points or 1.15%.