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NIFTY TODAY
Bears
appear to have gained upper hand as they sabotaged the good work done by the
bulls in the last week before signing off the day with a strong bearish candle
which forced the indices to close below 10250 levels which bulls were defending
till now on closing basis. Weakness in the last hour of trade dragged
SENSEX & NIFTY to low points. The Nifty ended the session below 10250-mark,
while the Sensex shed over 180 points. Against this, the market had a strong
start, with the Sensex and Nifty having risen 1% each. The
Sensex slipped 550 points to 35975 and the Nifty dipped 150 points to
10858 weighed down by index heavyweight Reliance Industries Ltd as macro
concerns, including higher crude prices and liquidity crunch, hurt the trading
sentiment. .
NIFTY TOMORROW
As we are
in the expiry week for F&O Oct. series, in forthcoming sessions
if Nifty doesn't stabilize around its
200-Day EMA of 10150 levels then traders should prepare themselves to
see the index heading towards 10000 levels. Upsides bulls will able to revive
their chances of coming back provided they manages a close above
psychologically important 10500 levels. Till then stakes shall remain in favour of
bears with chances of Nifty heading towards 10000 levels.
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Resistance: 10450,
10550
Support: 10200,
10000
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