Pre Market Updates Friday December 14, 2018
- Banks and non-banking financial companies (NBFCs) doing well on hope of new RBI governor may do favor for them.
- China appeared to be taking more steps to meet US demands to open its markets.
- Brexit, relief after British Prime Minister Theresa May survived a no-confidence vote
- Rupee declined by 16 paise to close at 72.01 against the US dollar.
- Indian markets likely to follow Weak global cues
- Asian shares extend losses after disappointing Chinese data
- Yesterday, markets extend their gains to the third consecutive day led by gains in frontline banking and IT stocks.
- But today Indian markets likely to follow weak global cues
- Expect a negative trend today.
- Banking stocks will be in focus as Piyush Goyal openly talking about using RBI money to help banks. Good news for PSU counters.
- Meaningful Call writing was seen at 10,900 strike price.
- 10900-10950 levels will act as a crucial resistance level for the December series.
- Nifty likely to face resistance at 10820 and support at 10640.
Nifty50 Chart Analysis: Spinning Top Candle
- Nifty formed Spinning Top candle on the daily charts.
- Represent the areas of uncertainty.
- It can be formed in an uptrend as well as a downtrend.
- FII: 14 CR
- DII: -51.86 CR
- Nifty max pain level currently at 10700
- Bank Nifty max pain level currently at 26800
- Nifty PCR at 1. 27
- Nifty Bank PCR at 1.
- Nifty: 10000 PE and 11000 CE
- Bank Nifty: 26700 PE and 27000 CE
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