NIFTY TODAY
In the past two months, Indian market wiped out gains it made in the year
2018. Benchmark indices, Sensex and Nifty, were down about nearly 17 percent
from their respective highs. The markets traded low on Tuesday, ending the
trading session in red below 10200 at the closing bell. At the close of market
hours, the Sensex is down 176 points at 33891, while the Nifty is lower by 52
points at 10198.
NIFTY TOMORROW
The current correction doesn’t augur completely a bear phase on
broad-level but it is more of event-based correction which is not in favour of
market coupled with overhung valuation concerns that peaked in the recent
period. Going into Wednesday’s trade, it would be important for Nifty to not
only defend the 10,180-10,250 zone, but also move past the 10325 mark to defend
the support that it has formed over the past few sessions. The market’s
behaviour vis-à-vis these levels will not only be important for Monday’s
session, but also for subsequent sessions. On
Wednesday, the 10,350 and 10,435 levels are likely to act as immediate
resistance for Nifty, while supports should come in at 10180 and 10100 levels.
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Resistance: 10350, 10450
Support: 10200, 10100
Thanks for sharing such a useful information with us. Keep it up.
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