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Wednesday, 14 December 2016

MARKET EXPECTING GOOD HOPES FROM US FED OUTCOME

The Sensex ended with a loss of 95 points at 26697. The benchmark indices opened at 26707., touched an intra-day high of 26736. and low of 26547.The NSE Nifty was down 39 points and closed at 8,182. It opened at 8,229. points, hitting a high of 8,229. and low of 8,165. Technically,  The Nifty reclaimed its crucial support level at 8,200 . which is positive sign and could be due to short covering amid positive global cues. The Nifty registered a large bear candle on the charts in the previous session. A strong break below 8170 will increase the downside pressure and drag it to 8100/8000. on the downside to prevent further damage. However, on the upside a break above the 8,230 level is likely to lift hopes for the bulls. 
Investors eyeing fed policy
The market mirrored the volatility seen in other emerging markets and settled below the 8,200 mark as investors remain cautious ahead of today’s Fed policy. A 25 bps rate hike is widely expected but any hawkish comment would act as a cloud over the EMs. Back home, both the CPI and WPI inflation has declined in November after currency shortage depressed the consumer demand. This may provide RBI a room for ease in interest rate
TOP GAINERS:  Axis Bank, HCL, Reliance, Tata Power, Infosys, Asian Paints, M&M 
TOP LOSERS:  Coal India, Bosch, Aurobindo Pharma, Eicher Motors, ACC, ONGC, Tech 

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