F&O July
series expired in the red due to selling in the financial & energy stocks however,
pharma and IT positive for the day. The Sensex slipped 335 points to settle at
37736 levels. Nifty ended at 11102 down 101 points. Global markets faded as a
status quo in policy by the US Fed Reserve failed to offset tepid business
outlook and resurgence in virus cases around the world. Investors will be
looking at commentary emerging from today’s meeting between the PM and key
economic regulators. Stock specific action expected to continue.
Going forward 11000 will act as a make or break level and any decisive break below 11k mark can lead into strong profit booking in index which can drag index toward 10900-10800 zone and on the other hand Nifty has formed good resistance near 11200-11300 zone with fresh upsides only above 11300 zone.
Going forward 11000 will act as a make or break level and any decisive break below 11k mark can lead into strong profit booking in index which can drag index toward 10900-10800 zone and on the other hand Nifty has formed good resistance near 11200-11300 zone with fresh upsides only above 11300 zone.
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Resistance: 11200,
11300, 11400
Support: 10900,
10800, 10700
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