The market after lower opening yesterday slipped to day’s low in early morning trades but soon thereafter recovered as the session progressed hitting session high in late afternoon trades which however, remained short lived and witnessed sharp sell off in front line stocks. The market finally closed with the Sensex at 27645 down by 41 points while the Nifty ended at 8365 down by 8 points. Select stocks viz. Hero Moto, Dr. Reddy, Vedanta among other gained while HDFC, ONGC, Tata Motors declined. The market breadth remained flat as 1446 advanced while 1268 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8366.30)
The counter after positive opening yesterday soon slipped near session low but made sharp recovery in subsequent session hitting day’s high of 8437 in late afternoon trades which however, remained short lived and the counter witnessed sharp sell-off plunging to day’s low. The counter finally closed with marginal loss of 6 points. The counter to gain strength needs to trade and remain above 8387.75 whereby it may move up to 8402/8424. Strong support for the counter exists at 8345.25 which if breached decisively with volumes then it may slide to 8319/8291.
The counter after positive opening yesterday soon slipped near session low but made sharp recovery in subsequent session hitting day’s high of 8437 in late afternoon trades which however, remained short lived and the counter witnessed sharp sell-off plunging to day’s low. The counter finally closed with marginal loss of 6 points. The counter to gain strength needs to trade and remain above 8387.75 whereby it may move up to 8402/8424. Strong support for the counter exists at 8345.25 which if breached decisively with volumes then it may slide to 8319/8291.
BANK NIFTY FUTURE (Last close 18366.40)
The counter after weak opening yesterday slipped to session low in early morning trades but witnessed continuous recovery as the session progressed hitting day’s high of 18545 in late afternoon trades which however, remained short lived and slipped again on sharp sell-off and finally closed with marginal loss of 35 points. The counter to gain strength needs to trade and remain above 18412.75 whereby it may move up to 18488/18555. Strong support for the counter exists at 18313.25 which if breached decisively with volumes then it may slide to 18257/18183.
The counter after weak opening yesterday slipped to session low in early morning trades but witnessed continuous recovery as the session progressed hitting day’s high of 18545 in late afternoon trades which however, remained short lived and slipped again on sharp sell-off and finally closed with marginal loss of 35 points. The counter to gain strength needs to trade and remain above 18412.75 whereby it may move up to 18488/18555. Strong support for the counter exists at 18313.25 which if breached decisively with volumes then it may slide to 18257/18183.
HCL TECH FUTURE (Last close 936.80)
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining over ½%. The stock appears positive on charts and may move up to 941/945 on volume trading. Strong support for the stock exists at 931.00.
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining over ½%. The stock appears positive on charts and may move up to 941/945 on volume trading. Strong support for the stock exists at 931.00.
TATA STEEL FUTURE (Last close 368.65)
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 373/376 on volume trading. Strong support for the stock exists at 365.00.
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 373/376 on volume trading. Strong support for the stock exists at 365.00.
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