The market lost it strength further, Sensex closed at 288.06 at 19177.77. The Nifty slips 86.65 points at 5770.90 on weak global cues and sharp rupee depreciation. Profit booking may also be the reason as the Sensex had rallied more than 1000 points from June 27 to July 1.. About 697 shares have advanced, 1502 shares declined, and 136 shares are unchanged. Pharma and FMCG stocks pick up momentum in the last trading hour. Sun Pharma , ITC and Jindal Steel are gainers in the Sensex. Realty Index badly hit today, falling 5 percent. HDIL , Unitech , Orbit Corp, Brigade Enterprises ,Sobha Developer and DLF are down between 4-10 percent. Rupee weakening further to 60.23 (+0.57). FIIs sold 705 crore in cash market while DIIS bought 252 crore, FIIs start selling large so be cautious, huge volatile days are ahead.
Now Bulls caught in trap, Nifty come under the territory of bears, 5690 level looking like a good support, Bears can lead the nifty to 5710 or 5690 even below with help of weakening rupee and global trend. Tomorrow the first resistance for nifty is at 5797-02 level. Next resistance ranges are at 5825-30,5870-73,5892-00,5925-30,5950-55,5970-75,6005-10,6050-55,6090-95 levels. On downside first support is at 5744-40 level. Next supports are at 5717-12,5675-70,5649-45,5623-18,5590-85,5569-65,5536-32,5518-14,5497-92,5477-74,5445-41 level.The trend is in bear side, nifty fell below 5825 is not good for bulls,Now bulls can only breath above 5850.
Positional Support for NIFTY 5730 5705 and positional Resistance for NIFTY is 5825 5840 5850 5860 5875 5930 5940 .
Intraday Resistance of NIFTY are 5825, 5870, 5886,5900
Intraday Support of NIFTY are 5718, 5674, 5658, 5642
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.