The NIFTY opened the session on a flat note but the index moved southwards as the session progressed.
Selling pressure amongst key index heavyweights like SAIL, DLF, Axis Bank, Wipro and R Power dragged the NIFTY to an intraday low of 5438.95 levels.
The NIFTY finally closed the session at the 5447.50 levels with a loss of 53 points.
The NIFTY traded under pressure during the entire trading session.
With the cuts witnessed during yesterday’s session the NIFTY is now back to its key support zone of 5450—5425 levels.
A close below the 5425 levels will open up downside targets of 5300—5250 levels in the NIFTY.
The NIFTY has also registered a close below its key moving average clusters.
Hence, any upsides from current levels will find resistance between the 5500—5530 levels.
We booked part profits on our Short call given on Hindalco Ltd @175.50 levels. (Initiated @180.50 levels).
The recommendation has already fetched a smart gain of Rs 9700/- per lot to thesubscribers of our product Trading calls section.
We continue to hold our short positions for downside targets of Rs 168 levels.
We recommend subscribing to our product Trading Calls section to avail such profitable Trading calls.
No comments:
Post a Comment