SBIN 255 PUT NEAR TO HIT 1ST TGT 3.9 MADE A HIGH OF 3.8
CONTINUE TO HOLD UNIONBANK 57.5 CALL FOR TGT
Thursday’s
lackluster trading session ended on a flat note. Possibility of weaker outcomes
of September quarter earnings took the market sentiments off beat. The Sensex
ended with marginal loss, while Nifty finished flat after traded in a narrow
range throughout on September 5. At close, the Sensex was down 80
points at 36644, while Nifty was up 3 points at 10847. The
investors are waiting for the September quarter earnings and fear that it may
not keep up the expectations, particularly in the auto sector considering weak
sales. The earnings will also guide the direction for the markets along with
the global developments such as the developments in U.S.-China trade war.
We are very
much convinced that the recent low around 10800 will not be challenged and the
hope as of now turned into a reality. We still remain optimistic and expect the
index to revisit 10750-10700 in next few days. For Friday, 10930 followed by 10955
are the levels to watch out for in the upward direction and on the lower side,
we expect 10750 to act as a sheet anchor. In case of any decline in the initial
hour, traders should construe this as a good buying opportunity.
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Resistance: 10930, 10955
Support: 10800, 10750
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