NIFTY 50 Closing Update: Reliance sees sharp surge from lows, Indigo Confirms interest in Virgin AustraliaPremkumar Ramachandran (Author) Published Date : May 15, 2020 15:14 IST
Closing Update:- Reliance sees a sharp surge from lows, Indigo Confirms interest in Virgin Australia. BEL Top Gainer while RCF Top Loser, Nifty Still Hovering below 20DMA and 50DMA. Nifty still caught with Bears. Kerala Monsoon may get delayed by 2 days.
Market losing direction after such a sharp fall is not something that Traders would like. Usually, the traders would like to have trend continuing for pulling the markets down dominated by Bears or the Bulls should come to rescue when the market finds some support and trade higher, Couple of Instances where Nifty had moved itself into green.
20DMA for Nifty is at 9276-9280 and unless we cross this and close we will have the Bears attacking again and again. Reliance, BajFinance, Maruti, HDFCBank are most active in the N50 Index while INOX and PVR are facing severe selling pressure.
SmallCap and Midcap Index are the ones that fell least indicating some buying traction seen in markets. SEBI Extends deadline for brokers to submit their reports until 30th June. Kerala Monsoon may get delayed by 2 days
Critical Supports for Nifty are 9121, 9098, 9066 and 9032. Critical Resistances are at 9174, 9205, 9238 and 9286. Closing above 9174 is indication of fresh bullishness while a close below 9100 shows bear control. Reliance, Indigo, AsianPaint, Escort and Manappuram are some stocks to watch out for. For more details stay connected with us.