12 October 2015


"BUY INDIACEM FUTURE ABOVE 78.4 TG 79.80/80.4 SL 76.2"
The domestic markets slipped in red after hitting their highest in nearly two months as software stocks declined led by Infosys, while worries retail inflation for September could edge higher also weighed on the market.The Sensex and Nifty closed in red on Monday after software stocks declined, led by Infosys as it reduced its full-year US dollar revenue growth guidance, while worries over September retail inflation which could edge higher also weighed on the market. Sensex closed 175 points down at 26904. Nifty closed 46 points down at 8143.
Nifty future closed the day in the negative. The level of 8128, which was also the low of today’s trading session, and the level from where it rebounded is a strong support region, a breach of this level will be a cause for concern for the bulls. The level of 8070 is the immediate support but the critical support is 8050-8000 and a decisive breach of this region will see the bears returning to the center stage again. On the way up assuming the index opening around 8170 the first significant resistance to overcome would be found between 8200 and 8230.
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RESISTANCE: 8170, 8200, 8230
SUPPORT:  8140, 8110, 8080

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