Page 31 - Technical Research News Today

Archaeologists have discovered the earliest dated cave paintings in South America in Argentine Patagonia, dating back...

Rectors call for budget increases and wage rises for staff or institutions will soon be unable to function

For the market to move higher, banking names have to participate in the rally, say experts

Shares of BHEL jumped 4.40 per cent to Rs 237.35 during the trading session Friday, with its total market capitalization of more than 82,000 crore.

Nifty has broken out of a Running Triangle pattern, indicating the start of a fresh leg of up move. The daily Bollinger bands have begun to expand and prices trading along the upper band indicate that there could be sharp trending moves on the upside. We expect Nifty to target 23,000 – 23,100 in the short-term. On the downside, the zone of 21,900 – 21,860 shall act as a crucial support zone.

The Rollover for the Nifty Index futures stood at 79.31 percent, a decline from the previous months 81.28 percent and the three-month average of 80.04 percent

BSE Midcap and Smallcap indices were trading marginally higher. Sectorally, Nifty PSU Bank led the gains, rising over 1 percent.

Nifty 50 held on to the crucial support zone of 21,900 – 21,850, which coincided with the 20-day moving average and the 50% Fibonacci retracement level of the rise from 21530 – 22249.

Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.

IndusInd Bank, Mahindra & Mahindra, HCL Tech, Power Grid, Maruti, State Bank of India, Titan, Asian Paints, Nestle and UltraTech Cement were the major gainers