Bears tighten
their grip in the market & took nifty future below the 9850 level as
investors booked profit anticipating near-term pain. The F & O expiry week
has started on bearish note nifty has been making lower tops and lower bottoms
from last four sessions and broke its trend line support by connecting the
swing lows of 9800 level. Geopolitical tensions, Another Fed rate hike hint, Fears
of fiscal imbalance, FII outflows, High stock market valuation are some of the
reason of this correction in the market. Today nifty future has started from
9965 made a high of 9969 and low of 9841 finally closed below the support level
9900 to 9879, Total 128 point movement was there in intraday in nifty future.
On Tuesday,
we may see a subdued start to the session. The Nifty future rests below support
level 9900. It would be critically important for the index to maintain itself
above this level, failing which we might see more weakness creep in.
The 9970 and 10050 levels will act as immediate resistance for the Nifty
future. Supports will come in at 9835 and 9775 levels.
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about intraday tips on Google +
Resistance: 9975, 10025,
10055
Support: 9835,
9775, 9735
MARUTI ROCKSS ACHIEVED FINAL TARGET 7900
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GO SHORT IN NIFTY AT 9910 WITH A STOP-LOSS AT 9950 TO READ MORE VISIT EQUITY FUTURE CALLS
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