DCB BANK
FUTURE NOT EXECUTED
Market
ended on a negative, with the Nifty holding on to its 9300-mark as investors pondered over the chances of
another rise in interest rates next month ahead of the US Federal Reserve's
policy outcome due later in the day. The
Sensex settled the day at 29894, down 26 points. The NSE Nifty closed at 9311,
down 2 points. Despite better-than-expected quarterly results, the market is
consolidating as investors awaited US Fed’s policy outcome later today. Fed is
expected to hold interest rate as it may wait for more signs of stability in
the economy to hinge for further hike. Stock-specific movement encouraged the
market participants to gain faith in every consolidation which continues to
provide positive support to the market.
Short-term
outlook for the market remains positive till Nifty trades above 9200
levels and is expecting target of 9355 levels in short term. 9200- 9150 levels
in strong support & Resistance levels respectively on nifty based
on derivative option open interest data for current month series. Any kind of
short term correction or consolidation is buying opportunity for medium to long
term investor. One can expect higher levels targets in medium to long term.
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Resistance: 9350, 9370, 9400
Support: 9280, 9250, 9200
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