FOR SBIN STRATEGY(COVERED LONG HEDGE WITH OPTION STRATEGY)
CLICK HERE
The Indian equity market closed with marginal losses on Thursday amid a volatile F&O expiry session led by losses in the Banking, Healthcare and Metal stocks. Indices which were under pressure throughout the day, managed to recover smartly in the second half. The Sensex finally ended mere 58 points lower at 27,507, ahead of the GDP numbers followed by RBI policy action next week. The Nifty moved in a range of 94-odd points. The index from a high of 8365, dropped to a low of 8270, and finally settled at 8319 - down 16 points.
The bulls are showing continued enthusiasm to take fresh
long positions and the bears are covering their shorts; if the index were to
get past the 8370 – 8400 range tomorrow, then the bulls would gather more
strength to push and clear the major resistance between 8420 and 8450. We are
quite skeptical about this rally continuing beyond the 8365-mark but it appears
that the upswing has still some more headroom left. However, as of now, fresh
weakness signs would only be seen only when it closes below 8265 now.
CLICK HERE
The Indian equity market closed with marginal losses on Thursday amid a volatile F&O expiry session led by losses in the Banking, Healthcare and Metal stocks. Indices which were under pressure throughout the day, managed to recover smartly in the second half. The Sensex finally ended mere 58 points lower at 27,507, ahead of the GDP numbers followed by RBI policy action next week. The Nifty moved in a range of 94-odd points. The index from a high of 8365, dropped to a low of 8270, and finally settled at 8319 - down 16 points.
Once the index gets past 8370 through 8395 range, it might
even get fired up. On the way up, crossing the 8435-mark would ensure bank
bulls are marching upward again while a fall below 8265 would mean fresh
weakness knocking at the door.
More about intraday tips on Google +
RESISTANCE: 8355, 8388, 8418
SUPPORT: 8322, 8292, 8262
No comments:
Post a Comment