Daily Big Picture – Nifty Below 10,500 Mark Due To Lack Of Positive Trigger

Today’s Action:

India’s key indices started the day flat today, and observed a topsy-turvy trading session due to F&O expiry.

Daily Market Review:

Benchmark indices experienced a volatile trading session today, amidst options expiry. Small cap Indices recoup yesterday’s losses.

The Nifty started the day at 10,477.90 and made an intraday high of 10,534.55; however, during the last hour, traders resort to heavy selling as a result of which the index closed at 10,477.90 with a loss of 0.12%. The BSE Sensex also fell 0.19% today. It started the day at 33,928.86 points and traded between 33,752.03 and 34,023.65. The index closed at 33,848.03.

The market breadth, which indicates the overall health of the market was also in favor of gainers today. On the NSE, 777 stocks advanced and 740 stocks declined. A total of 47 stocks remain unchanged.

The Nifty Smallcap index reversed yesterday’s loss while the Midcap index closed flat today. The Nifty Midcap advanced 0.06% today while the Small cap index gained 0.49% today.

Barring Nifty Metal (+2.08%), PVT Bank (+0.08%), and Realty (+3.05%); all the sectors disappointed the investors. The top losers were Nifty PSU Bank (-1.94%), Pharma (-0.58%), and Auto (-0.40%).

The MarketSmith IND 47 Index, our proprietary lists of the top 47 stocks in technical chart and fundamental chart, lost a 0.25% today.

Today, the Nifty observed a higher trading volume while the BSE Sensex observed a lower trading volume compared to yesterday’s trading session. The distribution day count remains at six on the Nifty, while four on the Sensex.

Current Outlook:

– Be cautious with any new purchases.

– Make a defensive game plan for your portfolio.

– Stay disciplined and exercise sound buy and sell rules.

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