7 February 2018

NIFTY & STOCK FUTURE TIPS FOR 8 FEB 2018

CALLS FOR STOCK FUTURE  
"SELL CIPLA BELOW 565 TGT 556/550 SL 577"
"BUY JUBLFOOD 2020 TGT 2060/2085 SL 1975"
FOR LIVE MARKET CALLS FILL UP THE FORM HERE>>>> 
The stock markets declined on Wednesday with the BSE Sensex falling more than 100 points amid a recovery in global markets. The Sensex and Nifty lost steam in the last 30 minutes even as the Reserve Bank of India (RBI) kept key policy rates unchanged in its sixth bi-monthly monetary policy statement as per expectations. The indices also took cues from US market futures with S&P, Nasdaq and Dow Jones falling in preopen trade. While the Sensex closed 113 points lower to 34082 levels, the Nifty fell 62 points to 10451 level. Nifty future opened at 10595  made a high of 10624 and low of 10442.
All in all, we expect the market to consolidate its present status and find a bottom. It is also important to note that the current correction is because of not just domestic factors or out of reactions to Budget, but also a part of global risk-off that is taking place. We expect a pullback that began from lows of Monday to continue. Supports exist at 10,600 and 10,550 zones.  After three days on continuous selling, chances of a pullback are higher. Investors are advised to stay bullish on markets as long as Nifty trades above its panic low of 10300 recorded on Tuesday. The next target is closer to 10700-10750 levels
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Resistance: 10650, 10700, 10750
Support: 10500, 10450, 10400

1 comment:

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