26 August 2015


The markets are volatile. Uncertainty over the Chinese markets, profit bookings and the upcoming derivatives expiry flared up volatility in the Indian equity markets. Domestic equity markets closed over 1 per cent lower on Wednesday, giving up gains from the previous session as wary investors shied away from risky bets on fears that a rate cut in China was not enough to stabilize its slowing economy or halt a collapse in stocks. The  Sensex and Nifty tanked 317 points and 88 points at 25714 and 7791, respectively. The Sensex touched a high of 26156 points and a low of 25657 points during intra-day trade. Bearish sentiments also subdued trade at the National Stock Exchange. The derivatives expiry tomorrow is also adding volatility and anxiety. Though a scheduled event, at this stage it is one of the most important factors to look out for.
Tomorrow will be the expiry of f& o September 2015 series. Very volatile market we are expecting for tomorrow. On the lower side, 7770, 7750 is the immediate support. 7730-7710-7690 are important levels and a beach of 7650 will signal resumption of the downswing. On the higher side, 7950 is the immediate resistance and it must sustain decisively above this region to signal a breather in the downswing and above the 8000 - 8050 range for some meaningful pullback.
More about intraday tips on Google +
RESISTANCE: 7830, 7880, 7930
SUPPORT:  7780, 7730, 7680          

No comments:

Post a Comment