The NIFTY opened the session on a bearish note on the back of extremely negative cues from its global peers.
The NIFTY spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.
The NIFTY registered an intraday low of 5389.80 levels during the final hours of the day’s trade and finally closed the session at the 5396.75 levels with a loss of 51 points.
The NIFTY has corrected over 100 points over the last two sessions of trade.
The sell off witnessed over the previous two sessions has finally taken the index below the broad
trading range of 5400—5550 levels.
The NIFTY can now slip towards the 5300—5250 levels over the upcoming sessions if it trades below the 5425—5450 levels.
Pullbacks from current levels will face stiff resistances between the 5450—5480 levels.
We booked part profits on our long call given on Apollo Tyres Ltd @ 77 levels. (Initiated @75 levels).
The recommendation has already fetched a smart gain of Rs 8000/- per lot to the
subscribers of our product Trading calls section.
We continue to hold our short positions for downside targets of Rs 80 levels.
We recommend subscribing to our product Trading Calls section to avail such profitable Trading calls.
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