4th June Closing Market Updates : 16:03
As stated in previous blog(s), Nifty didn't break its crucial support of 4770 yet and again bounced back to end up flat. Nifty ended at 4856.45 by gaining 14.85 points and Sensex closed positive by 43.58 points to end at 16008.74.
Nifty gained almost 44.50 points from its day low of 4770.35 and Sensex bounced nearly 259 points from day’s low. INR became stronger verses US$ by nearly 0.5 paise.USD/INR was trading at 55.67 at the time of closing bell of Indian equity market.
Among BSE sectorial indices, Capital Goods index gained the most by 2.08% and Consumer durable's index was the top loser by 2.92%.
In Nifty50 stocks, JPAssociates was the top gainer by 5.59%, closed at 65.15 and Gail was the top loser by 3.07% after closing at 320.10.
LITL was the most active stock by traded quantity and SBIN by the traded value.
Nifty Outlook :
Immediate Supports : 4770/ 4530
Immediate Resistance : 4880/ 4970
Spot Nifty again undoubtedly took support at 4770 levels and this level is very crucial to sustain above on weekly basis. Nifty future witnessed a triple support around 4760 level. On 18th May, Nifty Fut. marked low of 4767.45 and closed at 4888.95 with a volumes of 2.03 crores, again on 23rd May, Nifty Fut. made a low of 4782.2 and closed at 4814.55 with volumes figuring near to 1.82 crores. Today also Nifty Fut. bounced back from its low of 4760.5 and ended at 4850.15 but the only thing to worry is on the lesser volumes of just 1.35 crores. So question is does this bounce-back rally sustainable ?
Major Global Indices :
Nikkei : -144.62
Hang Seng : -372.75
FTSE : -61.88
CAC : +7.36
DAX : -80.13
Dow Futures : -57.00
Nasdaq Futures : -5.25
Gold(US$) : 1623.5
Silver(US$) : 28.51
USD/INR : 55.4480
EUR/INR : 68.9750
GBP/INR : 85.2140
JPY/INR : 1.4084
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