"BUY JPASSOCIAT FUTURE ABOVE 12.65 TG 12.85/13.2 SL 12.3"
"BUY HDIL 60 PUT @ 1.15 TG 1.45/1.95 "
YESTERDAY’S
NIFTY CALL NOT EXECUTED
Wednesday Weakness! Nifty closes over 100 points lower, Sensex ends
below 25500.A host of measures announced by the government in the road and
infrastructure segment failed to cheer the market today. The Sensex and Nifty
came crashing down on Wednesday as investors chose to offload shares. Market
breadth remained fairly negative. The S&P BSE Sensex slipped below its crucial
psychological level of 25500, while broader CNX Nifty settled below its key
support level of 7750. The BSE
Sensex opened at 25838, touched an intra-day high of 25890 and low of 25457. It
finally ended with a loss of 382 points at 25483. The NSE Nifty opened at 7823
hitting a high of 7843 and low of 7725, before ending with a loss of 106 points
at 7732.
The 7705-7665 is the immediate support below which 7642 is an important
demand line. Fresh supply may be expected if the 7630 is decisively breached
which may then take it down to the 7600, 7550, 7500 levels. 7740-7765 is an important
hurdle and must be taken out for any show of strength by the bulls but the real
test of strength will be around range 7780-7800 which may act as a critical
zone to watch out for now and must be crossed decisively for signal that it is
on the path to recovery.
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RESISTANCE: 7740 , 7770,7800
SUPPORT: 7705 , 7675,7645
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