Nifty 50 Broke And Sustained Above 17,900

Nifty 50 Broke And Sustained Above 17,900

The Nifty 50 Index opened with a gap up at 17,868 with 40 points and closed at 17,944 on Wednesday, August 17, 2022. A gain of 119 points (0.67%) is achieved. The nearest support and resistance in the next trading session will be 17,838 and 18,114 respectively. The leading sectors were Nifty PSU Bank (2.26%) and Nifty IT (1.16%).

Nifty 50 Technical Analysis

To know better about the market you can check the video provided above that contains Nifty 50 option chain analysis data.

Top Gainers And Losers Today

The top Indian stocks that saw a bullish performance as per NSE are:

  • Bajaj Finserv Limited (NSE: BAJAJFINSV)
  • HDFC Life Insurance Company Limited (NSE: HDFCLIFE)
  • Hero Motocorp Limited (NSE: HEROMOTOCO)
  • Bajaj Finance Limited (NSE: BAJFINANCE)
  • Bharti Airtel Limited (NSE: BHARTIARTL)

The Indian stocks that saw a bearish performance along with the Nifty 50 index are:

  • Apollo Hospitals Enterprise Limited (NSE: APOLLOHOSP)
  • Tata Motors Limited (NSE: TATAMOTORS)
  • Mahindra & Mahindra Limited (NSE: M&M)
  • Maruti Suzuki India Limited (NSE: MARUTI) 
  • Cipla Limited (NSE: CIPLA)

The Nifty 50 witnessed a Gap up opening based on today’s intraday perspective, yet it was volatile. The best part is that the Nifty broke 17,900 and sustained above it. In the opening session, Nifty tested the previous close and by the end of the session, it successfully closed with a buying momentum. The OI chart indicates bullish signal as there is unwinding from the call side and a good number of additions in the Put. The market might come into profit booking if Nifty starts below today’s low.

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Sahil Patil

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