Nifty 8170/Sensex 26635/Bank Nifty 17828
21 Advances/30 Declines/0 Unchanged
“Sensex falls for 2nd day, down 128 pts on weak global cues. Nifty ends below 8200. Midcap, Small cap slip to”
“Nifty ends at 8170, Sensex slips over 100 pts; BHEL, Reliance up”
“S&P BSE Healthcare, Bank Nifty, S&P BANKEX ,S&P Midcap 100,Nifty Midcap 100 among dragging Sector"
Nifty 50 traded with weakness in the session as profit booking or correction was the theme of the day as investors were cautious on carrying their position this week among global uncertainty and impending global events like BREXIT which is around the corner and hence opened at 8180 and made high of 8266 before profit booking could dominate the session as it made low of 8163 before closing at 8170 by losing 33 points or 0.41% decrease to the index.
Key highlights of 9th June 2016
• Sugar stocks jump as food ministry proposes 25% duty on export.
• MFs witness net outflow of Rs 58,000 cr in May.
• PSBs need Rs 1.2 lakh cr capital infusion from govt: Moody's.
• Brexit fears: German bund yield nears 0% in flight to safety.
• Brexit will be good for global economic growth: Marc Faber.
• Global cues push Sensex lower for 2nd day, Nifty ends below 8200.
• Infographic: M-cap of 1 private bank nearly equals 27 PSU banks.
• Cables biz to grow by 20%; exports by 50% in FY17:KEI Industries.
• In midst of 'raging bull run', Nifty target of 9,100: JM Fin.
• Logistics Stocks on the move.
Now what to expect today?
NIFTY future settled at 8192. Below 8200... our target intact 8120---8080 and then to 8000 mark. It has immediate hurdle at 8280---8320 mark. It's a correction phase and could test its support. As you all know that overall trend still looks highly positive.
Above 8000 mark target intact 9100---9200. 8000---7900 is the best buying opportunity in it.
Trade with levels only and wait for confirmation
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