10 June 2015


Winning Wednesday! Nifty back above 8100 mark. Market staged a smart comeback after falling for seven straight days. The markets finally saw the light of the day as it snapped seven day losing streak. In fact, the longest losing streak since March 27, 2015 came to an end as the Sensex and Nifty closed above crucial 26800 and 8100 levels respectively with gains of over 1.25%. Meanwhile, Nifty future is completing 15 years on Thursday. Launched on 12 June 2000, the index had then opened at 1461 and has moved nearly 5.5 times in the past 15 years.Today Nifty surged past the 8150-level to a high of 8152 towards the fag end of the trading day, before settling with a solid 102 point gain at 8124.
We need to see a decisive breakout above the zone between 8160 and 8200 to see any sustainable recovery. Again, we ought to monitor the psychological support level around the 8000-mark for that if breached, on the downside, on high volume activity then the index is headed for a test of the major support area between 7953 and 7927.
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RESISTANCE: 8200, 8250,8300
SUPPORT:  8150, 8100, 8050

1 comment:

  1. Breakdown on the Street! Nifty crashes below 8,000,TO GET BEST CASH TIPS Check CASH TIPS