Market ended on bullish note in the volatile session on August 23 led by the IT stocks. Indian markets started on a positive note following positive Asian markets cues after as Hong Kong’s Hang Seng edges out of bear territory seen in last week. During the afternoon session markets recovered from lows seen post opening session led by buying in TECK, IT and Energy stocks. Gains in frontline blue chip stocks such as HCL Tech and TCS also helped lift the markets. At close, the Sensex was up 226 points at 55555, and the Nifty was up 46 points at 16496. Index opened a day with gap up but showed selling pressure since the start of the session and closed a day at 16496 with minimal gains forming a bearish candle on the daily chart.
It seems the index is forming a fresh
consolidation zone in the range of 16355-16655 zone as last two days we have
been witnessed a choppy move in the same range which suggest traders can use
the same rage for trading purpose, going forwards immediate support is coming
near 16455-16375 zone and resistance is coming near 16555-16675 zone.
More about intraday tips Whatsapp On 9039542248
Resistance: 16555, 16655, 16755
Support: 16355, 16255, 16155
No comments:
Post a Comment