The market after flat opening yesterday failed to hold on to the opening levels and drifted lower under severe bout of all round selling past mid-afternoon pushing the MARKET
to a sharply negative close. The Sensex closed the day at 26468, down by 276 points after dipping to a low of 26349 in intraday trades while the Nifty ended at 7911, down by 90 points. The market breadth remained highly negative with 2280 STOCKS declining while 681 advancing. Readers are advised to trade with caution.
to a sharply negative close. The Sensex closed the day at 26468, down by 276 points after dipping to a low of 26349 in intraday trades while the Nifty ended at 7911, down by 90 points. The market breadth remained highly negative with 2280 STOCKS declining while 681 advancing. Readers are advised to trade with caution.
NIFTY FUTURE (Last close 7971.80)
The counter after flat opening yesterday continued to drift lower on profit taking coupled with heavy sell off past mid-afternoon taking the counter to session low of 7940 in closing hours. The counter however, recovered later on short covering and finally closed losing 90 points. The counter having slipped below its weekly support may remain under pressure and slide further to 7933/7908 on negative opening. Strong resistance for the counter exists at 7987.75 which if crossed decisively with volumes then it may move up to 8012/8025.
The counter after flat opening yesterday continued to drift lower on profit taking coupled with heavy sell off past mid-afternoon taking the counter to session low of 7940 in closing hours. The counter however, recovered later on short covering and finally closed losing 90 points. The counter having slipped below its weekly support may remain under pressure and slide further to 7933/7908 on negative opening. Strong resistance for the counter exists at 7987.75 which if crossed decisively with volumes then it may move up to 8012/8025.
BANK NIFTY FUTURE (Last close 15445.25)
The counter after flat opening yesterday continued to drift lower on profit taking as the session progressed tumbling to day’s low of 15350 in closing hours which however, later recovered on short covering and finally closed losing 429 points. The counter having slipped below its weekly support may remain under pressure and slide further to 15364/15315 on negative opening. Strong resistance for the counter exists at 15482.75 which if crossed decisively with volumes then it may move up to 15525/15581.
The counter after flat opening yesterday continued to drift lower on profit taking as the session progressed tumbling to day’s low of 15350 in closing hours which however, later recovered on short covering and finally closed losing 429 points. The counter having slipped below its weekly support may remain under pressure and slide further to 15364/15315 on negative opening. Strong resistance for the counter exists at 15482.75 which if crossed decisively with volumes then it may move up to 15525/15581.
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