The Sensex opened higher at 32,944 but soon turned negative before settling at 32,760, down 181 points, or 0.55 percent. The gauge had lost 372 points in the previous two sessions. The Nifty future too fell sharply by 68 points, or 0.67 percent, to settle at 10,162. Intra-day, it hovered in the range of 10,200 and 10,125. Technically, Indian Stock Market is still in the negative zone. Nifty would possess strong support near 10100 levels. The market would see continuous downtrend only if Nifty closes below 10100 levels. The market is ready for a big movement on either side. you can continue to hold short positions in the market with suggested targets. The market would enter into the positive zone only if it closes above 10210 for Nifty. Otherwise nifty would see further downfall and Next target for Nifty is set to 10120-10100-10000 levels.
The support for the Nifty is 10120-10100-10070-10040-10000 and the resistance is at 10200-10230-10255-10275-10300 levels.
No comments:
Post a Comment