“SELL ZEEL BELOW 430 TGT 410/400”
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Primary trend of the stock is bearish and it is likely to show
correction with the breach of the support level of 430, where one may initiate
the short position in it for the targets of 400,380 while stop loss can be
placed at 480. Currently it has formed reversal pattern on the short term
charts and trading below the resistance level of 450.Breakout of its resistance
level may show recovery in it where traders can expect targets of 480 and 500
while major support of 320 can be placed as technical stop loss.
Nifty shuts below
8,000 mark
The benchmark Sensex ended lower
for the sixth straight session. The Sensex lost 385 points or 1.47% to settle at
25,765, its lowest closing level since 24 May 2016. The index rose 120. points or 0.45% at the day's high of 26,270. The index lost 432.31 points or
1.65% at the day's low of 25,717.The Nifty fell 145 points or 1.8% to settle
at 7,929, its lowest closing level since 24 May 2016. The index rose 28.35
points or 0.35% at the day's high of 8,102. The index lost 157 points or
1.95% at the day's low of 7,916. Technically, A strong break below 7950 will increase the
downside pressure and drag it to 7900/7850. Traders can go short on a break
below 7950.On the other hand, a decisive break above 8100 will ease the
downside pressure and take the index futures higher to 8200 and 8250.
TOP GAINERS: Wipro, TCS, ONGC, Reliance and Hero
TOP LOSERS: SBI, Tata Steel, PowerGrid, Maruti,
Tata Motors and Mahindra & Mahindra
Stock market trading needs expertise knowledge and skills to fetch the data from daily charts and graphs. MCX Tips are helpful for the traders to make successful trading in commodity market.
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