Today nifty was on slight bear trend, the 50-share Nifty declined 13 points at 5,742 levels. Sensex ended on a flat note after a volatile trading session as investors braced for the US Federal Reserve policy meeting with caution. The 50-share Nifty index, however, ended weak with Bank Nifty bearing the maximum brunt after the Reserve Bank of India turned unexpectedly dovish in the monetary policy review yesterday which made the rupee slide below the 61/dollar. The 30-share Sensex ended lower 2.6 points at 19,345.70 and The broader markets ended lower with mid-caps and small-caps falling nearly 1 per cent on the BSE. The market breadth was negative. Out of 2,370 stocks traded, 1,392 stocks declined while 837 stocks advanced on the BSE.
Overseas investors have pulled out around Rs 18,400 crore across both the equities and debt markets. The outflow of foreign money from the debt market was higher compared to the equities markets during the month. FIIs moved out close to Rs 12,000 crore in debt, while equities saw outflows of about Rs 6,000 crore in July and Indian rupee fell to as low as 61.17 to the dollar in today’s trade on month-end dollar demand from importers. Now the rupee trading at Rs 60.86 compared with previous close of Rs 60.49 against the dollar. This is not good for market, so approach market cautiously, Today nifty breached important support level at 5700 and reached low of 5675, Nifty recovered on afternoon on note of finance minister and ended as flat. . So Thursday first resistance for nifty is at 5765 level. The trend of market is weak but if nifty strongly trades above 5785 it is a positive sign and can expect some reverse and below 5700 be very alert, we may see 5600- 5650 and avoid all longs.
Positional Immediate support for NIFTY is 5670
positional Resistance for NIFTY is 5856 5866 5872 5890 5909 5925 5936 5941 5958
Pivot 5723
Intraday Supports for Nifty 5703, 5694.46, 5651,5646.9 ,5618.6
Intraday Resistances for nifty 5747, 5780.17, 5770.81, 5799, 5804, 5820, 5847
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.