Nifty Auto index closed up 2.20% at 11036.65 today. The index has gained 2.00% over last one month. Among the constituents, Hero MotoCorp Ltd added 5.20%, Bajaj Auto Ltd gained 5.05% and Motherson Sumi Systems Ltd rose 4.28%. The Nifty Auto index has soared 2.00% over last one year compared to the 16.71% increase in benchmark Nifty 50 index. In other indices, Nifty Metal index gained 1.86% and Nifty Consumption index added 1.67% on the day. In broad markets, the Nifty 50 added 0.45% to close at 11589.1 while the SENSEX
recorded a gain of 0.38% to close at 38389.82 today.
Macroeconomic data, trend in global markets, the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be monitored. The Indian stock market will remain shut on Thursday, 13 September 2018, on account of Ganesh Chaturthi.
On the economic front, India’s industrial production data for July 2018 will be unveiled on Wednesday, 12 September 2018. India’s industrial production jumped by 7% from a year earlier in June 2018, following an upwardly revised 3.9% growth in the previous month. The all-India general consumer price index (CPI) inflation data for August 2018 will be declared on Wednesday, 12 September 2018. India’s annual inflation rate eased to 4.17% in July 2018 from a
downwardly revised 4.92% in the previous month.
Nifty Weekly Levels and Trading Strategy
Nifty Traders may follow the below mentioned levels for 10.09.2018 to 14.09.2018
Buy above 11,610 for targets of 11,660/11,740
Sell below : 11,550 for targets 11,500/ 11,470
Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser before taking any investment/ trading decision. We hold no financial liability to any user on account of use of information provided on this website. Due to the market’s volatile nature, the trader may/ may not get appropriate opportunity to execute the trades at the mentioned prices. Ace Investment Advisory hold’s no liability for any profit/ loss incurred whatsoever in this case.