NIFTY range bound today | Check out how it can react on Monday.Nifty - Technical Analysis:
-Nifty closed 15 points, or 0.13 percent, up at 11,464.45.
-It was range bound today and no clear direction was observed. NIFTY is still above 200SMA which is a good sign
-FPIs sold equities worth $528 million over the past five trading sessions while DIIs sold $109 million worth of equities in the same period.
Market - Driving Factors:
-Top Index gainers: SBI (2.83%), TechM (1.76%), TCS (1.69%)
-Top Index losers: IndusInd Bank (1.68%), Power Grid (1.49%), Airtel (1.16%)
-While the market is not in a bubble zone, we note that global cues (US markets on correction mode) have started to turn negative and FIIs have turned sellers along with domestic MFs.
-All BSE indices except telecom and utlities end the day in the green
Nifty - Outlook for Monday, 14th September:
Investors need to be prepared for a minor correction or a side-ways market, going ahead. There are some pockets of value in small-caps, but one needs to be selective. We also need to keep an eye on the US equities and how it behaves today, any further selloff or tension in Indo-China border can lead to more selling pressure.
Have a great weekend!
