Week in 5 Charts: Sensex, Nifty up 1% on strong IIP, easing WPI data

After a subdued start on Monday ahead of election result of five states, the market bounced back from the low point in the week ended December 14 amid strong domestic economic data and mixed global cues.

Despite BJP losing all three states, strong IIP and better WPI and CPI lent some support to the market.

India's WPI inflation, which is calculated on wholesale prices, fell to 4.64 percent in November 2018, from 5.28 percent in October on lower power and fuel inflation and food deflation. However, November WPI core inflation was at 4.8 percent against 5.1 percent, MoM.

On the other hand, India’s industrial production (IIP) grew 8.1 percent in October as against 4.5 percent in September, while CPI inflation eased to 2.33 percent in November compared to 3.4 percent in October.

The Sensex rose 0.81 percent this week, or 289.68 points, to ending at 35962.93, while Nifty was up 1.04 percent, or 111.75 points, to close at 10805.45.

On a weekly basis, the rupee depreciated 1.53 percent (Rs 1.09) against the dollar as it ended at 71.89 on December 14 against December 07, closing of 70.80 against the dollar.

Source:https://www.moneycontrol.com/news/business/markets/week-in-5-charts-sensex-nifty-up-1-on-strong-iip-easing-wpi-data-3293991.html

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How to use double candlestick chart pattern for trading

A candlestick depicts the battle between Bulls (buyers) and Bears (sellers) over a given period of time. All known information is reflected in the

price. The relationship between the open and close is considered vital information and forms the essence of candlesticks.

What is ‘Double Candlestick Pattern’?

Candlesticks are so named because the rectangular shape and lines on either end resemble a candle with wicks; and we will be studying most
relevant double candle stick reversal pattern. Each candlestick usually represents one day’s worth of price data about a stock. Double
Candlestick Pattern involves two consecutive candlesticks and these two consecutive candlesticks if interpreted correctly give excellent

trading insight.

ormation of Double Candlestick

The trading signal is generated based on two day’s trading action. The length signifies the range for the trading day; however trades have to

be qualified based on the length of the second day’s candle and formations of two candles as well.

One should avoid trading based on subdued short candles without confirmation candle.

List of Double Candlestick Patterns

Candlestick patterns can be made up of one candle or multiple candlesticks, and can form reversal or continuation patterns. Some of the most

useful & popular double candlestick patterns are mentioned below.

1. Bullish Engulfing
2. Bearish Engulfing
3. Bullish Harami

4. Bearish Harami

Source:https://www.moneycontrol.com/news/business/markets/technical-classroom-how-to-use-double-candlestick-chart-pattern-for-trading-3294241.html

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Closing Bell: Indices end on a flat note after rangebound trade; Nifty above 10,800, Bharti Airtel up 5%

Market at close: Benchmark indices ended positive but remained flat throughout the day with Nifty close just above 10,800 mark.

At the end, Sensex was up 33.29 points at 35962.93, while Nifty was up 14 points at 10805.50. About 1249 shares have advanced, 1287 shares declined, and 145 shares are unchanged. 

Bharti Airtel, Yes Bank, ONGC, NTPC and Asian Paints are the top gainers on the Sensex, while losers are HDFC, Wipro, L&T, Adani Ports and Bajaj Auto.

Among sectors, except pharma and metal all other sectoral indices ended in green, while midcap and smallcap stocks ended flat.

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Nifty ends rangebound session above 10,800, gains 1% in week

Benchmark indices closed rangebound session on a flat note Friday despite weakness in global peers due to growth concerns in world's largest economy China. Overall it was a consolidation day after the rally seen in previous three consecutive sessions.

The 30-share BSE ended with a positive bias but failed to hold on to 36,000 levels, rising 33.29 points to 35,962.93.

The 50-share NSE Nifty closed above 10,800 levels for the first time since December 4, up 14 points at 10,805.50.

For the week, the Sensex gained 0.8 percent and the Nifty rallied a percent.

The consolidation was on expected lines especially after three-day rally which discounted elections results and RBI governor news, experts said, adding the market could continue to get supported by stable oil prices and rupee with rate cut hope.

"Weakening rupee and decline in yield influenced investors to stay sideline," Vinod Nair, Head of Research, Geojit Financial Services told Moneycontrol.

He said inflation remained on a softening path while industrial activity is picking up which will provide support to the market.

Wholesale inflation fell to a three-month low of 4.64 percent in November 2018 from 5.28 percent in previous month, dragged by decline in prices of food articles and some easing in rates of petro products.

On the global front, growth concerns in Chinese economy dragged Asian and European markets to a negative terrain. China's Shanghai Composite, Hong Kong's Hang Seng, Japan's Nikkei and South Korea's Kospi closed lower by 1-2 percent after Chinese economic data missed expectations which raised worries about headwinds facing the economy.

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Nifty falls after 3-day rally; November WPI eases to 4.64%

Rupee Update: Indian rupee is trading marginally lower at 71.72 per dollar against Thursday's close 71.68 per dollar.

Asian Markets Under Pressure

Asian markets fell, putting the region on course to end a broadly positive week on a sour note, as traders took a step back and their profits off the table.

There was also some unease after the head of the European Central Bank raised concerns about the growth outlook for the eurozone owing to issues within and outside the bloc.

Japan's Nikkei, Hong Kong's Hang Seng and South Korea's Kospi were down over a percent while China's Shanghai Composite slipped half a percent.

Market Update

Benchmark indices continued to consolidate in morning, which was on expected lines said technical analysts.

The 30-share BSE Sensex rose 14.52 points to 35,944.16 and the 50-share NSE Nifty gained 1.50 points at 10,793.

The market breadth was in favour of bulls as about 780 shares advanced against 661 declining shares on the BSE.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-falls-after-3-day-rally-november-wpi-eases-to-4-64-3289111.html

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Opening Bell

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Closing Bell: Sensex ends 150 pts higher, Nifty below 10,800; auto, bank stocks top gainers

Market at close: Benchmark indices ended the volatile session on positive note on Thursday with Nifty ended below 10,800 level.

The Sensex was up 150.57 points or 0.42% at 35929.64, while Nifty was up 53.90 points or 0.50% at 10791.50. About 1470 shares have advanced, 1055 shares declined, and 135 shares are unchanged. 

Wipro, Kotak Mahindra Bank, Infosys, Maruti Suzuki and Tata Motors are the top gainers on the Sensex, while Yes Bank, Sun Pharma, TCS, Tata Steel and Coal India are among major losers.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-150-pts-higher-nifty-below-10800-auto-bank-stocks-top-gainers-3285011.html

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