Key equity benchmarks ended with tepid gains on Friday. Gains were capped as weak domestic economic data spoiled sentiment. Domestic shares have seen steady gains in the last few sessions supported by better-than-expected Q2 results. The Nifty edged higher in early trade but soon witnessed profit booking at higher level. Selling pressure in morning trade dragged the index lower as it hit the day’s low of 11,843.55. The 50-unit recovered from
lows in early afternoon trade The Nifty finally managed to end a tad below 11,900-mark.
Global Markets
Ascendas Real Estate Investment Trust is buying 30 business parks in the United States and Singapore for about S$1.66 billion ($1.22 billion) from its controlling unit holder CapitaLand Ltd. European markets move higher after strong China data. The pan-European Stoxx 600 was up around 0.4% during early morning deals, with almost all sectors and major bourses in positive territory.
Nifty Chart
Nifty Index closed on positive note at 11890.60 on 01.11.2019. We recommend Sell near 11900-11920 with strict stoploss above 11950 for target 11860 and 11820.
Nifty Support : 11860-11800, Resistance : 11920-11980.
