Friday 16 February 2018

What Changed For The Market While You Were Sleeping? 12 Things You Should Know

Posted by suhani varma on Friday, February 16, 2018 with No comments



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The Nifty50 pared most of its gains made in trade on Thursday to close around its opening level forming a ‘Doji’ type of pattern on the daily candlestick charts.

The Nifty50 which opened at 10,537 rose to an intraday high of 10,618 which made a long upper shadow, but bears quickly took control and pushed the index towards 10,500, which made a long lower shadow on the daily charts.

The index hit an intraday low of 10,511 before recouping losses. It closed 44 points higher at 10,545. The index decisively closed below its 50-DEMA placed at 10,599 levels.


According to Pivot charts, the key support level is placed at 10,498.3, followed by 10,451.1. If the index starts to move higher, key resistance levels to watch out are 10,605.4 and 10,665.3.The Nifty Bank closed at 25,424.35, up 0.33 percent. Important Pivot level, which will act as crucial support for the index, is placed at 25,274.6, followed by 25,124.9. On the upside, key resistance levels are placed at 25,594.6, followed by 25,764.9.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.

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