The index was in another wide ranging day on the down side it
would be in a grip of the bears. Bears have made nifty below 8000 today, Nifty
future started at 8051, it made a high of 8056 and a low of 7952 in intra-day trade
and closed at 7956, total 100 points was moved by nifty future throughout the
day. Now, even if there is a pause and no hint of a quick withdrawal of the
liquidity tightening measures recently announced, the market will still fall.
The levels to watch out for, on the downside, are found between 7950 and 7920
to begin with. Most technical indications are suggesting that kind of a
scenario panning out....
In case there were to be a sustainable recovery, the Nifty should be able to
get past 8070 only if that happens we can expect further upswing.
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RESISTANCE:
7980, 8120, 8160
SUPPORT: 7940, 7920, 7880
BUY BANK NIFTY FUTURES ABOVE 15860 TG-15885/15940/16000 SL- 15800 (CMP- 15845)
ReplyDeletestock future tips