Yesterday it was yet another bearish session for the Indian market as Nifty continued its correction and slipped another 40 points and closed at 7706.
Sensex slipped another 128 points and closed at 25101. Bank Nifty too maintained the correction and closed at 16274 shedding 114 points.
HDFC twins, NTPC, GAIL and Hero were top gainers while Adani Ports, Tata Motors, Hindalco, Tata Steel and BHEL were losers in the Sensex.
This is the correction phase continuing and it will remain a question from what levels markets will bounce back again.
Our calls continue to strike their targets.
We booked full profit in JSW steel around 1330, it was told to sell around 1350.
Part profit was also booked in Ashok Leyland around 102.80, recommended to sell below 104.
Another part profit was booked in Reliance Capital 381 in our STBT call and we will be booking full profit very soon.
Now what to expect today??
Nifty futures closed just near to the support level of 7730 at 7733, we mentioned in our previous days blog.
Now Nifty futures can look to touch its next support of 7680 if the bearishness continues,a break below 7680 then 7580 could be tested which is its next support. If the rally has to start again towards north it can start from any of these supports.
Resistance still stands at 7880--7940--8000.
Bank Nifty future on the other hand closed at 16356, very close to the support of 16350 we had mentioned in our previous blog post.
Next support stands at 16200--16100 and hurdle at 16610.
Just follow our levels and you can mint money!!
Today's Top Pick
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