SL NO |
INDICES |
RS |
CHANGE |
% CHANGE |
SIGN |
| 1 | SENSEX-30 | 74611.11 | 128.33 | - | |
| 2 | NIFTY-50 | 22648.00 | 43.35 | - | |
| 3 | FIN NIFTY | 21873.70 | 32.55 | + | |
| 4 | BANK NIFTY | 49231.05 | 165.70 | ||
| 5 | NIFTY MIDCAP | 11129.65 | 69.90 | ||
| 6 | DOLLAR | - | |||
| 7 | EURO | - | |||
| 8 | GOLD (10g) | - |
** Previous Close
MARKET NEWS:-
| SL NO | NEWS | STOCKS | IMPACT |
| 1 | L&T TECHNOLOGY SERVICES (LTTS) THE ENGINEERING & TECHNOLOGY SERVICES HAS OWN $100 MILLION (INE800 CRORE) FROM MAHARASTRA STATE CYBER DEPARTMENT. | ||
| 2 | AXIS BANK & YES BANK GO LIVE FOR PAYTM AS PAYMENT SERVICE PROVIDER TODAY AS NATIONAL PAYMENT CORPORATION APPROVED PAYTM REQUEST |
IMPOTANT TERMS USED
PIVOT Points
Pivots Points are significant levels used to determine directional movement, support and resistance. Standard Pivot Points use the prior period's high, low and close to formulate future support and resistance. In this regard, Pivot Points are predictive or leading indicators. E.g. previous session's High, Low and close is used to calculate Pivot, support and resistance for following session
The Pivot Point level sets the general tone for price action. A move sustaining above the Pivot Point suggests strength with a probable target to the first resistance. A break above first resistance shows even more strength with a probable target to the third resistance level. The converse is true on the downside. A move below the Pivot Point suggests weakness with a target to the first support level. A break below the first support level shows even more weakness with a target to the third support level.
Support and Resistance
Support and resistance represent key junctures where the forces of supply and demand meet. In the financial markets, prices are driven by excessive supply (down) and demand (up). As demand increases, prices advance and as supply overpowers, prices decline. When supply and demand are equal, prices move sideways as bullish and bearish camps fight it out for control over prices. Supports once breached reverse its role and acts as resistance for future price action. On the flip side, once resistance is breached decisively (with higher volumes) it changes its role as support for further price action. This is true irrespective of time frame.
Fibonacci Retracements
Fibonacci Retracements are ratios used to identify potential reversal levels. These ratios are found in the Fibonacci sequence. The most popular Fibonacci Retracements are 61.8%, 50% and 38.2%. Ratio of 61.8% is referred as golden ratio and holds highest significance of all.
Application :
After an advance, Fibonacci ratios are applied to price advance (difference between extremes) to define retracement levels and forecast the extent of a correction or pullback. Fibonacci Retracements can also be applied after a decline to forecast the length of a counter trend bounce. These retracements can be combined with other indicators and price patterns to create an overall strategy.
