Week ended on negative
note. Dragged largely by a weak day of trade on Infosys, nifty future snapped
9800-mark. The Sensex closed
down 270 points at 31524, while the Nifty future ended lower by 60 points at
9849. After a sharp drop in US shares in overnight trade and a terrorist
attack in Spain, nifty futures slipped in Singapore trade to signal weakness
through the day.
Pullback
rally is expected in Monday’s sessions. Yesterday, a decline below 9750 is
expected and also suggested to sell Nifty future if conditions matched for same
targets below 9750. Going forward, the immediate support for the Nifty is
placed at 9730 and 9700 levels. On the flipside, resistance is seen at 9850 and
9900 levels, but the major hurdle is in the 9955-10000 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.
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Resistance: 9400, 9425, 9450
Support: 9350, 9325, 9300
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