"MAY THE GODDESS DURGA TURN ALL YOUR DREAMS INTO REALITY THIS VIJAYA DASHAMI! STAY BLESSED""BUY IBULHSGFIN 180 PUT @ 18 TGT 22/28"
"BUY NIFTY 11600 CALL 31 OCT @ 43 TGT 58/70"
Bulls are in the grip on
bears. Nifty came below 11150 mark. The market ended in the red for the
sixth consecutive session as the concerns over weak macroeconomic environment
persisted. The Sensex closed 141 points down at 37531. The Nifty index settled 48 points lower at 11126.
The markets are in a bear grip and lows of 11100 -11000 levels can be seen before the bulls try to defend their territory. On the higher side 11300 -11400 will work as the resistance level. Going ahead, the 61.8% retracement of the recent rise i.e. 11050 & the key psychological level of 11000 will be the key supports to watch out for. The bulls need to defend these supports in order to keep the larger up trend intact. On the flip side, failure of bulls to hold on to these supports will turn the sentiments significantly in favor of the bears. On the higher side, the Nifty needs to take out the near term hurdle zone of 11200-11250 so as to turn the trajectory up again.
The markets are in a bear grip and lows of 11100 -11000 levels can be seen before the bulls try to defend their territory. On the higher side 11300 -11400 will work as the resistance level. Going ahead, the 61.8% retracement of the recent rise i.e. 11050 & the key psychological level of 11000 will be the key supports to watch out for. The bulls need to defend these supports in order to keep the larger up trend intact. On the flip side, failure of bulls to hold on to these supports will turn the sentiments significantly in favor of the bears. On the higher side, the Nifty needs to take out the near term hurdle zone of 11200-11250 so as to turn the trajectory up again.
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Resistance: 11300, 11400, 11500
Support: 11200, 11100, 11000
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