NSE Nifty and BSE Sensex today: All you need to know about todays performance
The Nifty continued with its winning streak for the sixth straight week. On December 11, the index swung sharply in both directions. The hourly chart shows that the index is nicely trading in a rising channel. On the higher side, the Nifty stumbled near the upper channel line but the selling was absorbed near the lower end of the channel. The lower channel line coincided with the 40-hour exponential moving average & the hourly lower Bollinger Band near 13400. The bulls rushed in near these parameters and pushed the index back in the green.
NSE Nifty and BSE Sensex today: The benchmark indices closed higher in a volatile session on December 11, with Nifty closing above 13500 level led by buying in financial, oil and gas, metal, and FMCG stocks. Sensex rose by 0.30% or 139 points to 46099. The Nifty surged by 0.26% or 13514. The market breadth is in favour of advances with an advance-decline ratio of 3:2.
The Nifty continued with its winning streak for the sixth straight week. On December 11, the index swung sharply in both directions. The hourly chart shows that the index is nicely trading in a rising channel. On the higher side, the Nifty stumbled near the upper channel line but the selling was absorbed near the lower end of the channel. The lower channel line coincided with the 40-hour exponential moving average & the hourly lower Bollinger Band near 13400. The bulls rushed in near these parameters and pushed the index back in the green. So the level of 13400 proved to be a key support for the second consecutive day and will continue to provide a cushion going ahead. On the higher side, the short-term target remains at 13700.
Other technical observations:
On the daily chart, the Nifty is above the 20-day moving average (DMA) and the 40-DEMA, of 13081 and 12674 respectively. The momentum indicator is bullish on the daily chart. On the hourly chart, the Nifty is above the 20-hour moving average (HMA) and the 40-HEMA, i.e. 13491 and 13402, respectively. The hourly momentum indicator is bearish. The market breadth was positive with 1107 advances and 779 declines on the National Stock Exchange
Global signals:
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European markets edged lower on December 11, as investors monitor the rollout of coronavirus vaccines and the rapidly approaching deadline for Brexit talks.
Asian markets traded mixed on December 11, as investors kept an eye on negotiations over additional fiscal stimulus in the US
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