NIFTY OUTLOOK & CALLS FOR F&O 10 SEPTEMBER 2020

FOR LIVE MARKET TRADING TIPS WHATSAPP ON 9039542248

Situation is getting worse day by day for the bulls. On a day when the bulls had nothing going for them, with GDP forecast, geopolitical issues and the underperformance of PSU stocks playing against them, we witnessed a spirited comeback in late afternoon trade. Select pivotals led by Reliance took the lead, ably supported by several stocks across sectors, despite the hiccups seen in several cash market stocks. After opening with losses and drifting lower, the benchmark indices recovered towards the latter half of trading but still ended the day with losses.  With Asian markets all ending in losses, the slight recovery seen in the Indian markets mirrored the positive opening in the European markets.  A sell-off in the US tech stocks and a setback to one of the vaccine trials kept markets on edge.  Indian markets are expected to be in sync with the global markets and also react to the ongoing border tensions with China. There are currently no fresh triggers for the market and we can expect volatility. Market is more or less in a consolidation phase after a huge rally in the last few months, analysts believe. In an eventless week, traders are likely to look at global cues to decide the direction of the market. Now index has established an immediate support near to 11150 and 11100 while a hold above 11300 zones could again give an upper hand to bulls to drive the move towards 11350 and 11400-11500 zones.

More about intraday tips Whatsapp On 9039542248

Resistance: 11300, 11400

Support: 11150, 11100