A flat trading session
ended on negative note Nifty came below 11850 mark. Disappointing IIP figures
for September, cautiousness ahead of the release of CPI inflation data for
October and growing worries over US-China trade deal talks sent the market over
half a per cent lower on Wednesday. Besides, CLSA's statement that India's GDP
may slip to 5% in FY20, too. The Sensex
was down 229 points at 40116, while Nifty was down 73 points at 11840.
The Nifty can continue with the minor degree correction for couple of sessions. Nevertheless, the overall trend for the Nifty remains positive & fresh buying interest is expected to surface near the support zone of 11750-11650. Nifty is expected to trade in the range of 11800 -12000 for an extended time frame. Short term selling pressure is expected to push the index towards 11700-11600.
The Nifty can continue with the minor degree correction for couple of sessions. Nevertheless, the overall trend for the Nifty remains positive & fresh buying interest is expected to surface near the support zone of 11750-11650. Nifty is expected to trade in the range of 11800 -12000 for an extended time frame. Short term selling pressure is expected to push the index towards 11700-11600.
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Resistance: 11900, 12000,
12100
Support: 11800,
11700, 11600
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