NIFTY TODAY
The present scenario in the market is like a tug of war between bulls and bears. Continuing its slide in Tuesday’s session, the Sensex slipped over 287 points to close at almost seven-month low of 33847, tracking sluggish trend in global markets on geo-political tensions and fresh worries over trade war amid weak rupee. The Sensex closed 287 points lower at 33847 after hitting a low of 33742. This is the weakest closing since April 10 last, when it settled at 33880. The Nifty too fell below the 10200 level by dropping 98 points, to end at 10146. Intra-day, it touched a low of 10102.
The present scenario in the market is like a tug of war between bulls and bears. Continuing its slide in Tuesday’s session, the Sensex slipped over 287 points to close at almost seven-month low of 33847, tracking sluggish trend in global markets on geo-political tensions and fresh worries over trade war amid weak rupee. The Sensex closed 287 points lower at 33847 after hitting a low of 33742. This is the weakest closing since April 10 last, when it settled at 33880. The Nifty too fell below the 10200 level by dropping 98 points, to end at 10146. Intra-day, it touched a low of 10102.
NIFTY TOMORROW
A swift pullback is expected though it is a
matter of time and patience. At this point, we are cautious for bulls, as
said before, as a pullback can be seen in the market. Buying at lower levels
should be seen with the retest of 10450 - 10300. A close below 10000 will
negate this view. Nifty has strong support at 10100 - 10000 levels given its a
crucial support in this rally as the previous rally to 11700 saw a bottom being
made at these levels only.
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Resistance: 10300,
10400
Support: 10100,
10000
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