Market Post Opening:
On the day of vote counting, it opened higher at 12108.40 and trading with positive biasness. The major support and resistance levels are 11990 and 12220 respectively. On the hourly chart it is trading above 50 days and 200 days moving averages. Nifty futures open interest up by 1.6%, adds 2.2 lakhs shares in the open interest across the series. The put-call ratio is at 1.39 versus 1.48. It made a high of 1172.30 and on the flip side it made a low of 12103.10, currently, it is trading at 12150 levels. Yesterday on technical aspect technically nifty formed bearish belt hold pattern on a daily chart which indicates positivity in the market. The major resistance is seen around 12217 levels, last month’s high after before Union Budget speech by FM.
All 11 sectors are trading in green where the top leading sectors are Nifty Metal, Nifty Bank, and PVT Bank. Nifty Bank Opened at 31230.20 up by 172.05 points against yesterday’s closing of 31058.15. Today Nifty Bank is consolidating in the range of 31225 to 31506 levels. Till now there is AAP party is leading in 53 seats whereas BJP is leading in 17 seats.
Leading Sector’s Top gainers & Losers
In Nifty 50, amongst the top three gainers, GAIL is top gainer with 4.35% up post their Q3 earnings. JSW Steel is up by 3.49% and Tata Motors is up by 3%.
In top losers no major downfall seen so far in the trades though top three losers are, Coal India is down by 0.87% followed by Britannia and TCS 0.27% & 0.22% respectively.
Movements by Capitalization
Post opening, a highly volatile movement is seen in the market. By capitalization, In Nifty Midcap opened at 18268.30 levels made a high of 18332.75, low of 18248.45 and currently trading at 18265.95 up by 0.41%. Nifty Smallcap opened at 6214.25 against the close of 6177.90. In today’s session, it made a high & low of 6226.05 and 6207.70 respectively. Currently, it is trading at 6207.70 level almost side away.
As per current market condition out of 2126 stocks 887 counters are advanced, 736 are declined and 503 are unchanged.
AAP- 56, BJP-14, Congress-0
The 50-bundle stock is looking bullish for today’s trading session ahead of Delhi election results. If the index breaches the psychological level near today’s high of 12175 then it may reach to the higher levels of 12220. As traders are very clear with the exit polls that AAP may come as clear majority in Delhi constitution it cheered the market.