NIFTY TODAY
Bears griped the Wednesday’s markets… After opening
higher bulls could not sustained as nifty future came below 10450 mark!!!!The
market cracked heavily in trades today facing a liquidity crunch amid rising
crude prices and depreciating rupee. The recent string of defaults by
non-banking financial companies (NBFCs) on debt repayment has compounded
worries. The Sensex lost 383 points or 1 per cent to settle at 34780.
The Nifty lost 132 points to end at 10453.
NIFTY TOMORROW
We
reiterate our bullish view on markets and suggest keeping “buy on dips”
approach in Nifty future till it holds above 10400. Any dips near this level can be a good buying opportunity. I believe
that if index holds above 10400 levels then it has the potential to claim the
targets of 10700-10800. I recommend every dip near 10400 can be used to make fresh
long in the index with keeping stop out level below 10350 on a closing basis.
More about intraday tips on Google +
More about intraday tips on Google +
Resistance: 10550,
10700
Support: 10400,
10300
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