21 December 2016


Market finished lower for the sixth consecutive session Wednesday after showing some signs of recovery earlier in the session. After a volatile session, the BSE Sensex ended the session down 65 points at 26242, its lowest level in nearly one month. Nifty opened above 8100 but was unable to sustain the same and lost momentum towards the end of trading hours. Sensex also closed in red and was down 0.25%. The Nifty index dropped 21 points to close at 8061. The BSE Sensex ended with a loss of 66 points at 26242. The benchmark indices opened at 26368 touched an intra-day high of 26396 and low of 26213. The NSE Nifty was down 21 points and closed at 8061. It opened at 8105 points, hitting a high of 8112 and low of 8053.
Market is drifting gradually lower with every passing day and badly need some major positive trigger, preferably from domestic front to ease this pressure. Banking holds the key for any sustainable recovery, so closely watch development on that front. Trade with properly hedged calls i.e. a mix of long and short both. For Nifty, 8150 remains the important immediate resistance for the index, sustaining above which buying might have been seen, however, as the market reached the closing hours it lost the resistance and touched a 1-month low.
More about on Google +
Supports: 8050 and 8000
Resistances: 8150 and 8200

No comments:

Post a Comment