The market after weak opening yesterday slipped to day’s low at noon but soon recovered to hit session high in mid-afternoon trade which however failed to sustain on profit taking and the market slipped again to close losing heavily with the Sensex at 27602, down by 229 points after sliding to a low of 27539 and a high of 27796 while the Nifty ended at 8292, down by 62 points. Investors remained cautious ahead of release of CPI/IIP nos. The market breadth remained weak as 1209 shares advanced while 1807 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8342.10)
The counter after weak opening yesterday soon slipped further to day’s low of 8316 on profit taking in noon trade. The counter witnessed recovery in afternoon trades which however, remained short lived and slipped again to close losing 64 points. The counter may remain under pressure and slip further to 8317/8300 on negative opening. Strong resistance for the counter exists at 8365.75 which if crossed over with volumes then it may move up to 8384/8406.
The counter after weak opening yesterday soon slipped further to day’s low of 8316 on profit taking in noon trade. The counter witnessed recovery in afternoon trades which however, remained short lived and slipped again to close losing 64 points. The counter may remain under pressure and slip further to 8317/8300 on negative opening. Strong resistance for the counter exists at 8365.75 which if crossed over with volumes then it may move up to 8384/8406.
BANK NIFTY FUTURE (Last close 18505.40)
The counter after flat opening yesterday closed losing over 100 points after slipping to session low of 18306 and a high of 18630 in intra day trades. The counter to gain strength needs to trade and remain above 18547.75 whereby it may move up to 18591/18667. Strong support for the counter exists at 18461.25 which if breached decisively with volumes then it may slide to 18403/18350.
The counter after flat opening yesterday closed losing over 100 points after slipping to session low of 18306 and a high of 18630 in intra day trades. The counter to gain strength needs to trade and remain above 18547.75 whereby it may move up to 18591/18667. Strong support for the counter exists at 18461.25 which if breached decisively with volumes then it may slide to 18403/18350.
JSW ENERGY FUTURE (Last close 94.35)
The stock after consolidating during the early part of the week closed yesterday near its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 96/98 on volume trading. Strong support for the stock appears at 92.25.
The stock after consolidating during the early part of the week closed yesterday near its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 96/98 on volume trading. Strong support for the stock appears at 92.25.
MCLEOD RUSSEL FUTURE (Last close 239.75)
The stock after consolidating during the early part of the week closed yesterday near its weekly buy signal with moderate volumes gaining 1%. The stock appears positive on charts and may move up to 243/245 on volume trading. Strong support for the stock exists at 237.25.
The stock after consolidating during the early part of the week closed yesterday near its weekly buy signal with moderate volumes gaining 1%. The stock appears positive on charts and may move up to 243/245 on volume trading. Strong support for the stock exists at 237.25.
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