The market after flat opening yesterday firmly moved upwards till late afternoon when profit taking in index heavy weight stocks emerged pulling down the indices. The market finally closed in the negative with the Sensex at 28799 down by 244 points while the Nifty ended at 8750 down by 83 points despite encouraging CPI and WPI nos. The market breadth remained weak as 1388 shares advanced while 1488 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8786.15)
The counter after flat opening yesterday moved range bound with positive bias till late afternoon when profit taking in index heavy weight stocks emerged pulling down the counter to day’s low of 8757 in closing hours. The counter finally closed losing 69 points. The counter to gain strength needs to trade and remain above 8800.75 whereby it may move up to 8819/8844. Strong support for the counter exists at 8863.25 which if breached decisively with volumes then it may slide to 8841/8820.
The counter after flat opening yesterday moved range bound with positive bias till late afternoon when profit taking in index heavy weight stocks emerged pulling down the counter to day’s low of 8757 in closing hours. The counter finally closed losing 69 points. The counter to gain strength needs to trade and remain above 8800.75 whereby it may move up to 8819/8844. Strong support for the counter exists at 8863.25 which if breached decisively with volumes then it may slide to 8841/8820.
BANK NIFTY FUTURE (Last close 18769.40)
The counter after positive opening yesterday surged to session high of 19109 in late afternoon trades which however, remained short lived as profit taking emerged in closing hours pulling down the counter to day’s low of 18650. The counter finally closed losing 87 points. The counter to gain strength needs to trade and remain above 18811.75 whereby it may move up to 18867/18933. Strong support for the counter exists at 18723.25 which if breached decisively with volumes then it may slide to 18675/18617.
The counter after positive opening yesterday surged to session high of 19109 in late afternoon trades which however, remained short lived as profit taking emerged in closing hours pulling down the counter to day’s low of 18650. The counter finally closed losing 87 points. The counter to gain strength needs to trade and remain above 18811.75 whereby it may move up to 18867/18933. Strong support for the counter exists at 18723.25 which if breached decisively with volumes then it may slide to 18675/18617.
FEDERAL BANK FUTURE (Last close 132.65)
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining 2%. The stock appears positive on charts and may move up to 135/137 on volume trading. Strong support for the stock exists at 130.50.
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining 2%. The stock appears positive on charts and may move up to 135/137 on volume trading. Strong support for the stock exists at 130.50.
YES BANK FUTURE (Last close 847.60)
The stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 852/857 on volume trading. Strong support for the stock exists at 843.00.
The stock after consolidating during the past sessions closed yesterday above its weekly buy signal with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 852/857 on volume trading. Strong support for the stock exists at 843.00.
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