Nifty Hits Fresh Record High And Trading Well Above 12300 Level
Nifty hit fresh record high and is trading well above 12300 level amid continued optimism about impact of the phase one U.S.-China trade deal due to be signed later this week.
The small Index is outperforming the large cap Index Nifty, the small Index yesterday gained 0.97% while the Nifty Index gained 0.59%. The buying in the small Index is indicating further strength in the market.
Small-cap Index rallied more than 365 points from its previous week low of 5809, gained 6.14% and outperformed the benchmark Index Nifty which was up by 3.52% from its previous week low of 11930.
Buy trend continued as Nifty hit fresh record high of 12350 this morning after crossing earlier level of 12338 made last day and is currently trading at 12325.
The trend of the market remains buy and any correction in the market would be an opportunity to buy at lower levels. The major support for Nifty is at 11930 which is its previous week low and Nifty will continue to remain bullish above 11930. On higher side the next level for Nifty will be 12400-12500.
In the current trading week, among the major sectors, Cement & Cement Products has outperformed with 11.06% followed by, Home Appliances, Realty and Fertilisers with 8.84%, 7.57%and 7.29% respectively. As far as minor sector is concerned, Carbon is leading this week with 8% change, followed by Sugar and Services which gained 6.05% and 5.92% respectively.
The US 10 Year T-Note is trading at 128.85. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 97.105.
Sector performance as on Last Week
Small Cap Major & Minor Sector stocks gainers as on 13th Jan
Large Cap Gainers & Losers as on 13th Jan
Mid Cap Gainers & Losers as on 13th Jan
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