Wednesday 17 October 2018




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The Nifty breached its 10-SMA and formed a small green candlestick as BankNifty led the overall bullish sentiment on D-Street on Tuesday.


Buying was seen in broader indices as the NiftyBank was leading the sentiment with gains in bluechip banks such as ICICI Bank, SBI and Axis Bank. Reliance Industries and HDFC added further strength to Nifty and helped the index to close above 10,550.


The momentum was strong in indices but the range was much smaller as compared to previous trading sessions. The small green candlestick with a gap-up does indicate strength but also marks a note of cautiousness as a follow up is needed.

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