Daily Stock Market Report: December 29
Yesterday's lows were held in today's session. However, the Nifty appears weaker at the current level.
Nifty 50 opened negatively for the day with a gap down of -41.05 pts or -0.19%. Post opening, the index remained sideways throughout the session.
As the trading day wrapped up, Nifty was down 47.30 pts and concluded at 21731.40 for the year.
Key Observations:
- Yesterday's lows were held in today's session. However, the Nifty appears weaker at the current level.
- Our outlook for the coming year will involve tightening the stop-loss and remaining cautiously long, as long as we observe a reversal with confirmation.
Spot Signals
Today, there were no significant news events that influenced stock movements.
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Quant Signals
Under the most popular configuration:
- ‘Quick Short’ didn't generate a signal today as it didn't meet its quantitative metric.
- On the other hand, ‘Back Up’ ended the day in loss with -0.36%.
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Broker Signals
Here are today's top positions that closed and met its target:
- SPANDANA (+23.4% in a month)
- TATACONSUM (+15.2% in a month)
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Coming back to the report…
Data Points
The highest CE OI is 22000, and the PE is at 21500 levels. This suggests that the markets are expected to revolve around these levels in the upcoming session.
Levels Worth Monitoring Tomorrow
The immediate support for the upcoming session rests at the 21600 level, while the resistance level is at 21800.
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Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.
