Heavy selling was witnessed in the Indian Stock Markets due to weak global cues and worst IIP data. Indian Benchmark indices opened with an immense gap-down of about 78 points and continued in the red for the whole session. Nifty made a high near the open at 4985.60 and a low at 4911.25 before closing a very volatile session at 4946.80 (2.23% down).
For intraday trading tomorrow, 4912 is the immediate support for Nifty and if this is broken, next support is seen at 4870-4840. On the upside, 4980 is the immediate resistance for Nifty and any gains above these levels are likely to face stiff resistance at 5015-5050. Traders are advised to trade with strict stop-loss and in small quantities.
For intraday trading tomorrow, 4912 is the immediate support for Nifty and if this is broken, next support is seen at 4870-4840. On the upside, 4980 is the immediate resistance for Nifty and any gains above these levels are likely to face stiff resistance at 5015-5050. Traders are advised to trade with strict stop-loss and in small quantities.
0 comments:
Post a Comment