Today Sensex closed at 17,993.33 with -332.76 points in negative or -1.82% down. And the Nifty closed at 5,386.55 with -99.80 negative points or -1.82%
On the other side in the Derivatives Nifty Futures: it closed with 102.60 down points and settle at 5,382.00 or -1.87% down. So over all market is bearish today and may start in a same manner in coming trading session. Overall the whole market is bearish at the start of the week after facing a small bullish trend at the end of last week.
As the markets continue to trade in the negative and the selling pressure prevails we recommend that it is not a right time to buy into weakness, if the market throws any opportunity, when you see higher levels of 30-50 points on the Nifty, it is an opportunity to get out of the market. So trade in small profit.
Technically the market is in a typically sideways zone with 5240 as a strong support zone to work with and 5475 as a strong resistance zone to work with.
It is looking bearish in the coming trading session if it manages to trade below the support level of 5240 else above resistance level of 5475 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5475 & above this level the next resistance is seen near the 5520 mark.
SUPPORT: It has first support close to the level of 5240 & below this level the next support is seen near 5200 mark.
On the other side in the Derivatives Nifty Futures: it closed with 102.60 down points and settle at 5,382.00 or -1.87% down. So over all market is bearish today and may start in a same manner in coming trading session. Overall the whole market is bearish at the start of the week after facing a small bullish trend at the end of last week.
As the markets continue to trade in the negative and the selling pressure prevails we recommend that it is not a right time to buy into weakness, if the market throws any opportunity, when you see higher levels of 30-50 points on the Nifty, it is an opportunity to get out of the market. So trade in small profit.
Technically the market is in a typically sideways zone with 5240 as a strong support zone to work with and 5475 as a strong resistance zone to work with.
It is looking bearish in the coming trading session if it manages to trade below the support level of 5240 else above resistance level of 5475 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5475 & above this level the next resistance is seen near the 5520 mark.
SUPPORT: It has first support close to the level of 5240 & below this level the next support is seen near 5200 mark.
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