On Feb series expiry day market ended on
negative note as tensions over India-Pakistan kept investors on edge.. The
benchmark indices once again shed all their intra-day gains to close in the red
on Thursday. The Sensex finished at 35867, down 37 points lower, while the
Nifty closed at 10792, down 14 points lower. During February, Nifty took
resistance around 11000 level and saw profit booking at higher level which took
Nifty to 10600 level.
We expect markets to remain volatile in
the near term. Indo-Pak tension will keep the market volatile unless things get
settled. On the domestic front, any
escalation of tensions between India and Pakistan would keep the market
volatile. Further, India’s Q3FY19 GDP numbers today would be keenly watched.
Globally, positive developments on the US-China trade deal is good for global markets,
however progress on Brexit deal front, crude oil price and currency movement
would be actively tracked by investors. Now it has to hold above the 10 750 -10,800
zone to extend its move towards 10900 and then the psychologically important
11,000 level, while on the downside, support is seen at 10700 and then 10650
levels.
More about intraday tips on Google +
Resistance: 10850, 10950
Support: 10750, 10700
nice
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