CALLS GIVEN IN YESTERDAY'S POST
DCB BANK FUTURE NOT EXECUTED
Bears continued to grip the markets…!!!!The market
cracked heavily in trades today on account descending trend of the value of rupee and weak global trade sentiments. A
good recovery in the last hour has helped the market close with shallow cuts.
The Sensex managed to recover over 250 points from its low point, while the
Nifty shed about 70-odd points from its low point. Both indices closed in the
red. At the close of market hours, the Sensex is down 139 points at 38018,
while the Nifty is down 43 points at 11477.
Some more choppiness could be witnessed in the upcoming session. The recent swing low of 11437 levels could help bears to rule. Now 11550 levels has become an impotent level for nifty. Only above 11600 levels could help bulls to comeback in the ground. Traders should trade with proper strategy in such scenario. It looks prudent for traders to avoid short-term bets and focus on any breach of larger trend, which may chalk out the future course of action for the indices. The 11400 level still looks like a sacrosanct support, a breach of which shall take the Nifty future below the 11350 level. A decisive close above the 11600 level should usher in a sustainable uptrend.
More about intraday tips on Google +
Some more choppiness could be witnessed in the upcoming session. The recent swing low of 11437 levels could help bears to rule. Now 11550 levels has become an impotent level for nifty. Only above 11600 levels could help bulls to comeback in the ground. Traders should trade with proper strategy in such scenario. It looks prudent for traders to avoid short-term bets and focus on any breach of larger trend, which may chalk out the future course of action for the indices. The 11400 level still looks like a sacrosanct support, a breach of which shall take the Nifty future below the 11350 level. A decisive close above the 11600 level should usher in a sustainable uptrend.
More about intraday tips on Google +
Resistance: 11550, 11600, 11650
Support: 11425, 11375, 11350
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