The
Sensex extended its losses for the second straight day, falling over 69 points
on Wednesday on sustained selling by investors amid disappointing corporate
earnings. The Sensex fell further with auto, realty, healthcare and consumer
durables stocks leading the fall. The gauge had lost 12 points in the previous
session. The Sensex closed lower by 184 points to 28156, while the Nifty
50 fell 68 point to 8725. Despite positive cues from Asian and European
markets, Indian stocks trade lower today, with investors continuing to press
sales, amid concerns about near term economic outlook and on some disappointing
quarterly results.
Pullback rally is expected in upcoming sessions. Going forward, the immediate
support for the Nifty is placed at 8700 and 8650 levels. On the flipside,
resistance is seen at 8775 and 8835 levels, but the major hurdle is in the 8750-8785
region and till such time that this region is taken out, any rally may be
considered as a pull back or of corrective in nature.
More about intraday tips on Google +
Resistance: 8750, 8800,
8850
Support: 8700,
8650, 8600
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