The market after flat opening yesterday slipped lower in early afternoon trades on profit taking led by losses in metal and Oil & Gas stocks among others with the Sensex closing at 28559 down by 134 points while the Nifty ended at 8555 down by 32 points. Auto stocks remained firm after better than expected sales nos. for November. Market will be keenly watching today’s monetary policy review by the RBI. The market breadth remained positive as 1283 stocks advanced while 1048 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8595.90)
The counter after flat opening yesterday remained range bound till late afternoon when profit taking emerged taking the counter to session low of 8588. The counter finally closed losing ½%. The counter appears with negative bias and may slip further to 8566/8549. Strong resistance for the counter exists at 8618.75 which if crossed decisively with volumes then it may move up to 8645/8662.
The counter after flat opening yesterday remained range bound till late afternoon when profit taking emerged taking the counter to session low of 8588. The counter finally closed losing ½%. The counter appears with negative bias and may slip further to 8566/8549. Strong resistance for the counter exists at 8618.75 which if crossed decisively with volumes then it may move up to 8645/8662.
BANK NIFTY FUTURE (Last close 18646.30)
The counter after flat opening yesterday moved with moderate volatility throughout the session and finally closed flat with marginal loss of 18 points. The counter may remain volatile today in view of apex bank’s policy review meet. The counter may move up to 18727/18788 on positive opening. Strong support for the counter exists at 18596.25 which if breached decisively with volumes then it may slide to 18524/18486.
The counter after flat opening yesterday moved with moderate volatility throughout the session and finally closed flat with marginal loss of 18 points. The counter may remain volatile today in view of apex bank’s policy review meet. The counter may move up to 18727/18788 on positive opening. Strong support for the counter exists at 18596.25 which if breached decisively with volumes then it may slide to 18524/18486.
HCL TECH FUTURE (Last close 1681.90)
The stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining over ½%. The stock appears positive on charts and may move up to 1689/1697 on volume trading. Strong support for the stock exists at 1673.25.
The stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining over ½%. The stock appears positive on charts and may move up to 1689/1697 on volume trading. Strong support for the stock exists at 1673.25.
REC FUTURE (Last close 344.50)
The stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining over 1%. The stock appears positive on charts and may move up to 348/350 on volume trading. Strong support for the stock exists at 341.25.
The stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining over 1%. The stock appears positive on charts and may move up to 348/350 on volume trading. Strong support for the stock exists at 341.25.
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