On Tuesday Nifty opened in red amongst news of FOMC rate hike decision to be taken on Thursday and was unable to sustain 7500 mark and closed at 7460 down 78.15 points.
On the contrary bank Nifty traded positively gaining 43 points before closing at 15321.30 above its previous close.
Sensex also traded weak at open and was unable to hold 24700 as short selling was persistent in market
BSE IT & BSE healthcare were among the worst hit index for the day with both shredding 92 points and 482 points respectively in the indices while SENSEX closed at 24551 down 253 points before day’s close.
Our buy call in Bharti Airtel Ltd (FUT/Cash) around 310-308 with Stop Loss of 290. Stock flared and made high of 341.75 before closing at 338.10.
Now what to expect today?
Nifty future now has a strong resistance at 7550---7630 and support at 7430. Market can remain volatile among anticipation of FOMC interest rate hike decision and how US Economic Data are affected.
While Bank Nifty has support at 15265---15130 and resistance at 15445--15510. Bank Nifty showed sign of struggle between bulls and bear with bulls dominating as banks. Bank Nifty expected to remain volatile before FOMC an RBI rate cut policy announcement.
Traders can trade with levels only. More will update during market hours
Today's Top Pick
Aurbindo future... Crashed vertically in yesterday's trading session and this panic will remain continue in this week. Below 707 we will see more downside pressure till 680---674 mark in days to come.
Hurdle and stop loss above 725.
More will be update soon during market hours!!
