It was the global sell off yesterday that took the Indian Market down. Sensex lost 461 points closing at 25603 and Nifty plunged 132 points to close at 7847.
FMCG and Energy sector were the main sectors that lost their shine. It was the F&O expiry too that played the spoil spot and markets behaved negatively.
Bank Nifty lost 156 points closing at 16716. This fall was much expected as well, as we had told you in our yesterday’s blog that Bank Nifty is at its channel resistance and a fall off may come.
Our call are doing great despite market volatility.
We booked profit in Rcom at 60 and our premium clients are still holing this position. It was told to buy around 56 levels.
We are also holding positive in many other calls and will be booking profits in them very soon
Just trade with our levels and we will take you through market volatility as well.
Now what to do???
Nifty future unable to breach its resistance level of 8020 and crashed vertically. Below 7940... our target was 7880---7820 mark.
Now Nifty future has support at 7860. A break and close below this level will take Nifty to 7820---7770. More and more panic will see only below 7770 mark where a gap support is present. A positive change can be expected at this level of 7770 else panic remain continues.
Resistance stands at 7940—8020--8070. Any bull rally can be expected only above these levels.
Bank Nifty on the other hand after the break of support of 16800, it can touch its next support of 16500 levels continuing the consolidation else touching its nearby highs of 17000 if any bullish momentum comes again.
Any fresh bull rally will only come on close above 17070 levels as Bank Nifty will be breaking out of the channel resistance.
Traders can trade safely with levels only. Fresh stock updates and idea will update from Monday onward.
Till then enjoy trading with us.
