Market
slipped for fourth consecutive session on Tuesday as weak corporate earnings,
hinting at an economic slowdown, kept investors' sentiment muted. Heavy selling
in select bluechip stocks like HDFC twins, State Bank of India, Reliance
Industries and HCL Tech dragged indices lower during the last hour of trade. The
Sensex settled below the 38000 mark at 37983 levels, down 48 points. The Nifty,
ended at 11331 mark, down 15 points.
The outlook for nifty remains bearish for tomorrow’s session some more weakness is likely for Wednesday. Minor buying interest is expected from the lows level 11325, but that support is unlikely to hold for a long. The 11355 and 11400 levels may act as immediate resistance levels for Nifty, while supports may come in at 11275 and 11255 levels.
The outlook for nifty remains bearish for tomorrow’s session some more weakness is likely for Wednesday. Minor buying interest is expected from the lows level 11325, but that support is unlikely to hold for a long. The 11355 and 11400 levels may act as immediate resistance levels for Nifty, while supports may come in at 11275 and 11255 levels.
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Resistance: 11355, 11400
Support: 11275, 11255
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