20 October 2015


Markets extend losses, Nifty below 8,250 Sensex opens down 28 points on profit booking, weakness in Asian markets. The SENSEX fell almost 28 points in early trade on Tuesday due to profit-booking by investors after recent gains amid mixed Asian cues. The BSE Sensex and Nifty continued to trade on a lackluster note in the late noon deals on Tuesday owing to selling in metal, oil & gas and banking stocks. Earlier in the day, the Sensex and Nifty traded in a narrow range. The Nifty touched high of 8,294 and the Sensex touched high of 27432. On the Nifty, apart from TCS, other Tata Group companies - Tata Power and Tata Motors - also attracted strong buying. Tata Motors and Tata Power rose over 3 percent .
Today’s nifty also showed a range bound effect around 10 AM to 1 PM. then it has given a good movement by forming a nice candle pattern of reverse head shoulder and gone at selling with great reversing from 8280 then nifty had given a proper indication of pure bearish market from the neckline of candles at level of 8277 as today also there was ending of reverse head & shoulder candlestick pattern. The market was too volatile as we suggested you already that market will take a volatile range after 15/oct and the same the market range is being seen in volatility form so don’t take any kind of high risk & also trade properly with proper TARGETS& STOP LOSSES by watching market put correct levels on your trades and make good return on your investment/capital. Trade according to following support & resistance to catch proper level at proper time &take good return from such kind of volatility trending market.
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RESISTANCE; 8265, 8280, 8300
SUPPORT; 8240, 8210, 8170

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