Nifty Tips
After remaining sluggish for most part of the day, nifty again stumbled in the last hour of the session and closed with around 2% loss. Spot Nifty suffered a loss of 95.70 points and closed at 4934. As we already predicted that a trade below 4985 may call for major sell off, the same happened in today's session.
Nifty Futures, down by 2.37%, closed at 4925.30. On the technical indicator front, market is still looking bearish below 4900 mark which Is also acting as a level above which Nifty can take a bounce back move.
Stiff resistance which is required to be breached to acquire the momentum again is around 5020-5080 mark. While support for Nifty futures is seen near 4900-4870 levels.
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Nifty Futures, down by 2.37%, closed at 4925.30. On the technical indicator front, market is still looking bearish below 4900 mark which Is also acting as a level above which Nifty can take a bounce back move.
Stiff resistance which is required to be breached to acquire the momentum again is around 5020-5080 mark. While support for Nifty futures is seen near 4900-4870 levels.
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