NIFTY remained under pressure for the third consecutive session, losing nearly 1% - Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
NIFTY
*NIFTY remained under pressure for the third consecutive session, losing nearly 1%.
* Almost all the sectors were under heavy pressure, while IT being the only gainer.
*Nifty is nearing the previous swing low around 24,700, and a breach of this level could trigger further selling,
* Next key support is at 24,450. If the market rebounds, resistance is now seen at 25,050-25,200 zone. * Traders are advised to adjust their positions accordingly and manage leveraged trades carefully.
BANKNIFTY
* Banknifty failed to sustain above its support, i.e., 51750 (50 EMA). Sharp selling at initial hours followed with additional pressure throughout the day to close at days low.
* Witnessed breakdown to its important consolidation zones and trend line of it’s head and shoulder pattern.
* VIX is seen with spike, be cautious over sharp moves.
* Traders are recommended to follow strict stop losses and can go with negative bias.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Tag News
Benchmark index is likely to trade with mild positive bias today - Monarch Networth Capital Ltd
