"BUY TCS 2200 CALL @ 33 TGT 49/56"
"SELL PVR FUTURE BELOW 1280 TGT 1271/1258 SL 1294"
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"SELL PVR FUTURE BELOW 1280 TGT 1271/1258 SL 1294"
The market continued to reel under selling pressure on Monday.
Liquidity crunch fears, consistent selling by FIIs, rupee volatility, rising
crude oil prices and trade war tensions weighed on sentiment. The Nifty has
broken psychological 11000 levels, falling 175 points to 10967. The Sensex
dropped 536 points to 36305. Investors, who were wary of the flash crash
on Friday which saw a 1500-point swing on the, started trading on a volatile
note in the morning. By mid-day however, the Street was deep in the red zone
and could not recover. Earlier, before the markets opened, finance minister
Arun Jaitley sought to soothe the volatility in the markets by assuring
the government will ensure liquidity in non-banking finance companies (NBFCs)
and mutual funds.
The outlook for nifty remains bearish for Tuesday’s session, some
more weakness is likely for Friday. 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 11000, but that support is unlikely to hold for a long. The 11175
and 11225 levels may act as immediate resistance levels for Nifty, while
supports may come in at 10950 and 10900 levels.The outlook for nifty remains bearish for Tuesday’s session, some
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Resistance: 11175, 11200, 11225
Support: 10950, 10925, 10900
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