Market Live Update: Strong opening of the market in pre-opening

Market Live Update-  Asia got off to a strong start today. SGX NIFTY is also seeing a rise of a half percent. stock market today

Market at pre-open – Market Live Update

– The market has opened on a strong note in the pre-opening amid good global cues. Sensex is trading at the level of 58107.29 with the strength of 319.26 points or 0.55 percent. On the other hand, Nifty is seen at the level of 17247.40 with a gain of 26.00 points or 0.15 percent.

FII and DII figures- Market Live Update

On December 15, foreign institutional investors(stock market today) sold Rs 3,407.04 crore in the Indian markets. On the other hand, domestic institutional investors bought Rs 1,553.01 crore on this day.

Stocks coming under F&O ban on NSE- Market Live Update

As of December 16, only 3 stocks are under the F&O ban on NSE. This includes the names Escorts, Indiabulls Housing Finance(Market Live Update), and Vodafone Idea. It is to be noted that the stocks included in the F&O segment are put in the banned category if the positions of the securities exceed their market-wide position limits.

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The key support and resistance levels for Nifty

The first support for Nifty is located at 17,158.66 and after that, the second support is located(stock market today) at 17,095.93. If the index moves upwards, then it may face resistance at 17,317.66 then 17,413.93.

Nifty Bank- Market Live Update

The first support for Nifty Bank is located at 36,660.7 and after that, the second support is located at 36,531.8. If the index turns upwards then it may face resistance at 37,001 then 37,212.4.

How will the market move today- stock market today

Rohit Single of LKP Securities(Market Live Update)says that Nifty has managed to close near its strong support zone of 17,200 today and if it manages to stay above this level then we can see a further rise in it. On the other hand, if Nifty slips below the level of 17200, then we can see it moving towards the next support of 17100-17000. On the upside, there is a resistance towards 17,300-17,400 for Nifty. If Nifty breaks this level, then we can see a positive breakout in it.

Karan Pai of GEPL Capital says that if Nifty is seen slipping below 17,192, then we can also see the level of 17,050 in it. A stop loss of 17,280 would be recommended for this trade setup.

Shrikant Chauhan of Kotak Securities says that the Nifty continues to show signs of weakness, till the Nifty does not break its short term resistance zone of 17350, it will remain weak. If Nifty(Market Live Update) breaks the level of 17,350 on the downside, then we will see it moving towards 17,150-17,120. On the other hand, if Nifty breaks the level of 17350 upwards, then again we can get to see the level of 17,400-17,425.

How was the market move on Wednesday

Before the weekly expiry, there was a lot of volatility in the market yesterday. At the end of trading(Market Live Update), the market has closed in the red mark for the fourth consecutive day today. Realty, metal, and IT stocks were the biggest losers. Apart from this, there was pressure on banking, pharma, FMCG stocks. However, there was slight buying in auto stocks.

Like the giants, small-medium stocks remained under pressure today. At the end of trading, Sensex closed 329 points lower at 57,788 while Nifty fell 104 points to close at 17,221 level. On the other hand, Nifty Bank closed 104 points lower at 36,790.

In yesterday’s trade, 21 out of 30 Sensex stocks were selling while 34 out of 50 Nifty stocks fell. On the other hand, selling dominated 10 out of 12 stocks(Market Live Update) of Nifty Bank. The rupee has also seen weakness against the dollar today. The rupee has closed at lower levels after 24 April 2020. Rupee weakens by 36 paise to close at 76.23 against the dollar today.

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