Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty were moving between marginal gains and losses on Friday morning.
With little over an hour left before the closing bell, Sensex was down 50 points at above 57,200 and the Nifty was down 30 points.
The country’s coal production is expected to record a “sizeable leap” in 2022 with increased output mainly from Coal India and captive mines, providing adequate firewall against any possible dry fuel shortages like the one witnessed in the latter half of this year.
“We believe it is a new trend in the making where Mean+2*sigma levels should act as a support while the Nifty should achieve the target of its mean+3*sigma levels in coming months,” they added.
Yesterday’s close beyond 17000 is an indication that the bears have lost their steam; because we not only surpassed the downside gap area created on Monday but also went on to negate the breakdown.
2021 is about to end and if we look at Gold and Silver’s performance, it has nothing worthwhile to write about compare to other assets like equity, metals or energy.
This is a crucial juncture and if the Nifty wants to take a U-turn, it will happen from here.
The US markets ended higher on Thursday as investors and traders were optimistic about positive economic data and discounted the impact of the Omicron coronavirus variant on the economy, even as COVID-19 case counts soar.
The bias, going by the open interest put call ratio of 1, is on the upside to range-bound,indicating traders have sold equal call and put options on the Nifty, expecting the market to move in the range and gobbling up the premiums received by selling calls and puts to the option buyers.
“On the options front, maximum Put OI for 30th Dec series is at 17000 strike price with 57 lakh shares followed by 16000 & 16500 strike price.
Asian markets opened in the green today as the Japanese ‘Nikkei’ was trading higher by over 200 points with the Taiwan index trading over the crucial 18,000 mark.
Nifty rose with an upgap but formed a doji after a rise suggesting indecision on the part of the traders at higher levels.
We suggest long term investors to take benefit of such volatility in the market and add on to their portfolios gradually at lower levels.
“Nifty may again open higher due to global cues but chances are good that we may not see follow-up buying at higher levels.