Nifty futures opened flat to negative on back of weaker global markets, selling got intensified further after poor numbers announced from SBI and Tata Steel and finally closed down by 40 points at 5720.60 with a premium of 34.60 points to the spot closing of 5686.25. Nifty futures have ended flat to negative week on week with a loss of 18.95 points.
The overall market breadth was very negative with 134 declines and 25 advances. All sectors has ended negative with the highest losers like PSU Banking, Realty and Metals. Nifty heavy weights like SBI, Tata Steel, ONGC has led the fall with selling seen in other midcaps post support levels of 5740 was being broken.
Nifty futures has failed to cross 5800 levels twice, one should turn bullish only above 5820 levels for a breakout. The resistances are placed at 5780/5820 levels while on the downside supports are placed at 5690 and 5650 levels
The overall market breadth was very negative with 134 declines and 25 advances. All sectors has ended negative with the highest losers like PSU Banking, Realty and Metals. Nifty heavy weights like SBI, Tata Steel, ONGC has led the fall with selling seen in other midcaps post support levels of 5740 was being broken.
Nifty futures has failed to cross 5800 levels twice, one should turn bullish only above 5820 levels for a breakout. The resistances are placed at 5780/5820 levels while on the downside supports are placed at 5690 and 5650 levels
0 comments:
Post a Comment
Let Us Know Your Opinion!