Market ended volatile session on a positive note amid tepid global cues
due to disappointing China's economic data on Thursday. Investors also looked
for geopolitical developments. The market opened on a strong note but erased
gains in late morning trade and continued to gyrate in narrow range. Nifty
future ended below 10120 level. We had
mentioned that the 10155 level may potentially act as a serious resistance for
Nifty future on Thursday. The nifty future opened on a subdued note, but got stronger as the
session progressed
marking the high at 10143 and low of 10087 & finally closed at 10117.
As it will be week ended Friday, tomorrow we expect a quiet start to the market. The Nifty is
likely to consolidate and remain vulnerable to bouts of profit taking, but the
inherent bias will continue to be positive. A large numbers of shorts that are
seen are likely to keep any corrective downsides limited. The 10155 level will
continue to act as resistance along with 10180. Supports exist at 10050 and 10020
levels.
.More about intraday tips on Google +
Resistance: 10155, 10175,
10200
Support: 10075,
10050, 10025
No comments:
Post a Comment