Bears marched up & took over the charge
in the market in opening hours of market, but bulls did not loosed the
positions & recaptured there seat in the closing hours. After falling 1091
points intra-day, the Sensex recovered some of its losses as markets stabilized
at lower levels. The Sensex opened 635 points lower on Friday. The Nifty, which
cracked below 8000-level to hit a low of 7927 during the session, managed to
recover part of the initial losses and settled 181 points down at 8088. The
Nifty index yo-yoed 181 points at 8088.
Although there was a near equal split in opinion, the Brexit
outcome comes in as a bit of a shock. The focus now would be on Bank of England
and the kind of policy action they they would roll out. Yes, the sentiments
across the global markets are highly negative and this is clearly rubbing off
on Indian markets. However, this is not the time to make any hard conclusions
but instead wait for events to unfold. The Brexit fall is giving the Indian
investor an opportunity to buy quality stocks.
Next logical target for Nifty would be 8050-8000 and breaching
levels of 8000 would force Nifty to see levels of 7900. Whereas the 8150-8200
will act as very strong resistance levels, if once it go to 8200 then there
will higher probability for Nifty to touch 8225-8250 levels.
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RESISTANCE:
8150, 8200, 8250
SUPPORT: 8050, 8000, 7950
Sir Let me know whether nifty futures will go up or down on Monday 26.6.16
ReplyDeleteSir Let me know whether nifty futures will go up or down on Monday 26.6.16
ReplyDeleteSir Let me know whether nifty futures will go up or down on Monday 26.6.16
ReplyDelete