NIFTY FUTURE: 8306.35 (-0.88%)
The Nifty remained subdued on the back of follow-up selling on the last day of the week. However 50 points bounce was seen towards the end which helped index to close 90 points lower. Nifty future premium settled at 6 points. India VIX rose 0.8% and ended at 17.1
Daily Nifty Levels
(FUT) R1: 8347 R2: 8387 R3: 8490
Pivot: 8284 S1: 8244 S2: 8181 S3: 8078
CHART INTERPRETATION:
Nifty has immediate resistance at trendline placed at 8331 mark .
Nifty has given breakout of channel formation on daily chart.
Nifty has a important support placed at 23.60 % retracement level below which sell off can be seen upto 8000.
Mechanical indicator RSI trading above 50 mark while MACD is still negative poised.
INDEX OUTLOOK:
NIFTY FUTURE TIPS: The Nifty is likely to open gap down on the back of weak global cues. It is likely to trade in the range of 8100-8260.
INTRADAY STOCK TIPS STRATIGY: Sell Nifty in the range of 8220-8230 for targets of 8170-8150, stop loss: 8255
SENSEX 27725 27550 27366.07 27200 27060 NIFTY 8420 8360 8299.95 8250 8200 BANKNIFTY 18510 18290 18057.20 17950 17800
CNX-IT 12250 12130 12032.30 11870 11750
Tata Motors announced that most of the Jaguar Land Rover vehicles recently shipped to Tianjin in China may have been damaged due to explosions at the Tianjin port. The port is one of the major locations in China through which Tata Motors-owned Jaguar Land Rover imports vehicles. About 5,800 vehicles that had been shipped to China were stored at various locations in Tianjin at the time of explosion.
The Nifty remained subdued on the back of follow-up selling on the last day of the week. However 50 points bounce was seen towards the end which helped index to close 90 points lower. Nifty future premium settled at 6 points. India VIX rose 0.8% and ended at 17.1
Daily Nifty Levels
(FUT) R1: 8347 R2: 8387 R3: 8490
Pivot: 8284 S1: 8244 S2: 8181 S3: 8078
CHART INTERPRETATION:
Nifty has immediate resistance at trendline placed at 8331 mark .
Nifty has given breakout of channel formation on daily chart.
Nifty has a important support placed at 23.60 % retracement level below which sell off can be seen upto 8000.
Mechanical indicator RSI trading above 50 mark while MACD is still negative poised.
INDEX OUTLOOK:
NIFTY FUTURE TIPS: The Nifty is likely to open gap down on the back of weak global cues. It is likely to trade in the range of 8100-8260.
INTRADAY STOCK TIPS STRATIGY: Sell Nifty in the range of 8220-8230 for targets of 8170-8150, stop loss: 8255
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2SENSEX 27725 27550 27366.07 27200 27060 NIFTY 8420 8360 8299.95 8250 8200 BANKNIFTY 18510 18290 18057.20 17950 17800
CNX-IT 12250 12130 12032.30 11870 11750
Tata Motors announced that most of the Jaguar Land Rover vehicles recently shipped to Tianjin in China may have been damaged due to explosions at the Tianjin port. The port is one of the major locations in China through which Tata Motors-owned Jaguar Land Rover imports vehicles. About 5,800 vehicles that had been shipped to China were stored at various locations in Tianjin at the time of explosion.
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