14 June 2016


See-saw movement was there in the market today.  On Tuesday Sensex & Nifty swung between gains and losses and ended the trade on a flat note. Key benchmark indices provisionally settled a tad below the flat line in what was a lackluster session of trade. The Sensex ended with a loss of mere one points at 26396. The Sensex opened at 26482 touched an intra-day high of 26485 and low of 26265. The Nifty closed with a loss of mere two points at 8109. The Nifty opened at 8134 hitting a high of 8135 and low of 8070. Investors have been on edge as they await the outcome of the US Federal Reserve’s two-day meeting that begins later in the day and worries over a referendum in Britain next week about whether to exit the European Union. Sentiment was further hit after data late on Monday showed India’s annual retail inflation rose to a near two-year high of 5.76% in May, while data on Tuesday showed stronger-than-expected Wholesale Price Index (WPI)-based inflation.

For tomorrow recovery we are expecting in the market. Nifty will try to come back to the level of 8150, once 8150 will be crossed there will be higher probability for nifty to come back to zone 8180-8200. 8235-8255 will act as major resistance level while 8070-8035 levels will support nifty tomorrow.
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RESISTANCE: 8150, 8200, 8250

SUPPORT:  8080, 8050, 8000

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