Nifty ends at 7855, Sensex slips 159pts; Bharti, TCS, Infosys up.....
Yesterday Indian Market looked under heavy short selling pressure as we are in last week of expiry and consolidation turned into correction for short term and assuming a weak parliament session this week expect no sharp upside movement among other economic and global news in upcoming session.
Indian markets opened on an expected note as Asia traded in a mix with Nifty 50 opening lower and weak at 7895 and showed little respite by showing some resilience by making high of 7911 but eventually short selling prevailed and consolidation was turned to volatility as Nifty 50 closing at 7855 shedding at 44 points with 0.56% change to the index.
Sensex also looked weak throughout the day and traded with little volatility on the downside and hence settled at 25679 shedding 159 points with 0.62% change to the index.
“Hope you all Minted money”
Just trade with our levels and you will mint money.
Now what next for today??
Nifty futures looked highly volatile as bears and bulls were unable to decide the market direction.
Nifty futures is settled at 7914. It is showing near term resistance at 7920. If this level is breached then we will see further upside rally till 7960---8000 mark. More and more power will see only close above 8000 level else it could test its support level of 7820---7770 again. 7760 act as major support.
Bank Nifty future has support at 16500 and resistance at 16800. Once break and sustain above 16800 will take to 17150---17350+ mark in days to come else it could test its support level of 16500 again.
More and more panic will see only close below 16500 mark.
Tommorow there is FOMC meet and all eye on that statement. So we will expect high volatility in the markets
Traders can trade safely with levels only.. More will update during market hours.
Today's Top Pick
TCS... Sharp gain from lower segment due to weakening of INR against USD. Looks positive and in panic will buy with stop loss below 2400 on closing basis.
Target and entry levels only for subscriber
Hold long in Idea.. looks positive on charts.
More will be update soon during market hours!!
