395
701
The key benchmark index continued its northern journey strongly for most of the day
despite of the selloff witnessed in the later part of the day. Sector specific PSU Bank
and IT sectors outperformed the key benchmark index where as FMCG and Realty
sectors were the laggards in the market. Structural strength is still intact on the
benchmark index. Vertical wave have really surprised the market and benchmark
index marched towards the northern trajectory. First line of defense is placed near
11500 which is the strong resistance zone. We can undoubtedly observe that the
momentum is clearly towards the northern trajectory.
In the recent scenario Bank Nifty is oscillating in an escalating channel where in it took
a support near the level of 26750 and travelled towards north by outperforming the
key benchmark index crossing the level of 29000 in Friday’s trading session. Bank Nifty
has shown the strong performance by outperforming the key benchmark index. Bank
Nifty has now given a breakout from that channel and Bulls have taken the index to an
all-time high and we may see the further escalation towards Northern trajectory
towards uncharted territory.
11545
29827
11485
29604
11428
29297
11368
29074
11311
28767
ICICIBANK
GODREJ CP
410
685
88
388
715
VIEW
POSITIVE
POSITIVE
POSITIVE
KOTAKBANK
IOC
HINDPETRO
POWERGRID
WIPRO
1,328.00
155.95
275.00
193.00
263.70
4.65
3.21
2.94
2.88
2.67
HINDUNILVR
YESBANK
RELIANCE
ITC
BHARTIARTL
1,701.00
245.05
1,323.75
291.60
337.95
-2.09
-1.92
-1.33
-1.32
-1.30
768 1062 107
11426.85
29381.45
Date: 18th Mar 2019
Contact: 022 61796400. Email: [email protected]