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India's benchmark indices ended their four-day winning streak to finish over 0.3% lower on Wednesday, weighed down by IT heavyweight Infosys and telecoms giant Bharti Airtel. Investors also remained cautious on the outcome of the US Federal Reserve's interest rate announcement and the outlook for future rate hikes due later in the day. The Sensex fell 215 points to end at 60906 while the Nifty fell 62 points to settle at 18082. Both indices had opened on a flat note earlier in the day and continued to slide throughout the session, with the Sensex making an intraday low of 60794 and touching the broader chic slide at 18048. The Nifty opened a gap on November 2 but failed to repeat early gains. The bulls took a breather today after recently stretching their arms. On the daily chart, the index has formed a bearish outside bar along with an engulfing bearish candlestick. This makes 18200 a key resistance. The hourly chart also shows that weakness is creeping in again. Going forward, 18000 will be the make-or-break level to watch out for. The short-term trajectory can remain positive as long as the Nifty holds above 18,000. On the other hand, a break of 18,000 on a closing basis will pull the index into consolidation mode.
Resistance: 17350, 17450, 17550
Support: 17250,
17150, 17050
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