If Nifty Maintains Above 11980 Levels Then Next Level For The Index Is 12100
Yesterday Nifty Index sharply bounced back from its day low of 11947 and broke its resistance level of 11980 and closed well above it at 12012 after the government announced a Rs. 25,000-crore stimulus for the real estate sector. If Nifty maintains above 11980 levels then next level for the Index is 12100.
However FII & PRO yesterday have squared off 53136 buy contracts in Index option in the weekly expiry.
On global front, U.S. markets hit record highs overnight after the U.S. and China reportedly agreed to remove existing tariffs on each other's goods in phases. The S&P 500 rose 8 points or 0.3 percent to 3085.
The U.S. has widely been expected to scrap tariffs on about $156 billion worth of Chinese imports currently set to take effect on December 15th as part of phase one.
FMCG, Realty, Financial Services, Infrastructure Construction and Engineering and Metals & Mining were the top major sector which has risen more than 1%. Carbon, Packaging, Beverages were the only minor sector which were up by more than 1%.
Top 5 companies were Apex Frozen Foods (19.99%), Balaji Amines (12.53%), Reliance Industrial Infrastructure (10.65%), JM Financial (9.27%) and Jai Corp (9.12%).
The US 10 Year T-Note is trading at 128.45. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 97.975 .
Sector performance as on 7th nov, 2019
Small Cap Major & Minor Sector stocks Gainers as on 7th nov, 2019
Large Cap Gainers & Losers as 7th nov, 2019
Mid Cap Gainers & Losers as on 7th nov, 2019
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