Market skewed in the favor of bears..!!! Bears
tightened their grip on Dalal Street. The markets traded low on Wednesday,
ending the trading session in red at the closing bell. The market extended its
fall for a fifth straight session Tuesday, making it the longest losing spree
in over three months as concerns persist on multiple fronts in the form of
rising crude prices, tumbling rupee and ongoing global trade tiff.The
Sensex closed lower by 294 points, at 37290, while the Nifty 98 points, to
close at 11278.
The outlook for nifty remains bearish for tomorrow’s
session some more weakness is likely for Wednesday. People
have already started taking 2019 election into consideration. Global cues will
be the driving force for Indian market. Minor buying interest is
expected from the lows level 11250, but that support is unlikely to
hold for a long. The 11400 and 11450 levels may act as immediate
resistance levels for Nifty, while supports may come in at 11200 and 11100
levels.
More
about intraday tips on Google +
Resistance: 11400, 11450, 11500
Support: 11250, 11200, 11150
No comments:
Post a Comment