TO GET SUCH CALLS LIVE JOIN US WHATSAPP 9039542248
Bulls
showed some strength after hitting the support area of 10800, but failed to
give closing above the 11000 mark. Market recouped Monday’s losses aided by broad
based buying across sectors supported by FMs decision to have a discussion with
FPIs amid continued outflow of liquidity. Global cues were positive due to
China’s step to prevent further slid in yuan, which could ease trade war
concerns. While hope for a 25 basis point rate cut in the RBI meet tomorrow provided
some support to the trend. Nifty managed to hold Monday’s low and the
immediate support at the 10800 level, and then extended its gains towards the
11020 level. The index respected the 10800 level, which is 61.8% retracement
of the entire upward move from 10004 to 12103 levels.
Nifty
showed strength after hitting the support area of 10800, but failed to give
closing above the 11000 mark. Immediate hurdle for the index is near 11050-11100
zone and support is in 10875 -10825 zone. Immediate hurdle for the index is
near 11035-11075 zone and support is in 10875-10825 zone.
More about intraday tips on Google +
Resistance: 11050, 11100
Support: 10875, 10825
No comments:
Post a Comment