The market soon after opening yesterday continued to drift lower as
investors hammered stocks across board on global cues over crisis in
Greece and falling oil prices plunging below USD 50 per barrel mark amid
fears of a global supply glut. The Sensex ended at 26987 down by 854
points after slipping to a low of 26937 while the Nifty ended at 8127,
down by 251 points. The market breadth remained weak as 719 shares
advanced while 2316 declined. Readers are advised to trade with caution.
NIFTY FUTURE (Last close 8157.90)
The counter after flat opening yesterday failed to hold on to the opening levels and witnessed across the board hammering and short selling in front line stocks on weak global cues. The counter finally closed losing a whopping 264 points. The counter having slipped below its intermediate weekly support may find fresh support at 8116.25 which if breached decisively with volumes then it may further slide to 8098/8077. Strong resistance for the counter exists at 8179.75 which if crossed with volumes then it may move up to 8202/8231.
BANK NIFTY FUTURE (Last close 18521.55)
The counter after weak opening yesterday continued to drift lower as the session progressed on across the board selling in front line banking stocks. The counter finally closed losing a whopping 628 points. The counter having slipped below its weekly support may find fresh support at 18433.25 which if breached decisively with volumes then it may slide further to 18384/18338. Strong resistance for the counter exists at 18598.75 which if crossed with volumes then it may move up to 18643/18689.
NIFTY FUTURE (Last close 8157.90)
The counter after flat opening yesterday failed to hold on to the opening levels and witnessed across the board hammering and short selling in front line stocks on weak global cues. The counter finally closed losing a whopping 264 points. The counter having slipped below its intermediate weekly support may find fresh support at 8116.25 which if breached decisively with volumes then it may further slide to 8098/8077. Strong resistance for the counter exists at 8179.75 which if crossed with volumes then it may move up to 8202/8231.
BANK NIFTY FUTURE (Last close 18521.55)
The counter after weak opening yesterday continued to drift lower as the session progressed on across the board selling in front line banking stocks. The counter finally closed losing a whopping 628 points. The counter having slipped below its weekly support may find fresh support at 18433.25 which if breached decisively with volumes then it may slide further to 18384/18338. Strong resistance for the counter exists at 18598.75 which if crossed with volumes then it may move up to 18643/18689.
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