Nifty Tips
The first day of this week started with
negative note and Nifty is currently trading below 5300 level. The
first hour of the session has witnessed a decline of nearly 25 points
in nifty which makes it a dip of 0.50%.
Depreciation in rupee against dollar
could be a major cause for this initial weakness in the market. The Asian Markets have also shown weakness in this hour of trade.
The market remained range bound last
week and Today also it seems like extending this trend. However the
weakness is more dominating so a deep red closing can not be ruled
out.
Technically, Nifty is looking bearish
below 5268 but a trade above 5350 can upthrust the market trend.
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