Posts
MTECHTIPS:-NIFTY
Nifty gave a gap positive opening on Monday and managed to trade with gains as the markets consolidated in a sideways session. The markets managed to stay in positive territory and closed the range bound session with small gains.Nifty, after making low of 4788 on Friday made 4888 as low on Monday both looks fancy and holding 4888 then 4980 & 5050 is possible in market. Nifty after a strong open failed to rally above 4937 which gives an impression that any rally selling pressure is high, with many stocks showing weakness. Nifty below 4860 only weakness would come, till then rally above 5085 which is 200DMA is possible before fresh selling. The rupee on Monday plunged below the psychological 55-level to close at all-time low of 55.04 against the dollar amid robust demand for the US currency from banks and importers.
Nifty gave a gap positive opening on Monday and managed to trade with gains as the markets consolidated in a sideways session. The markets managed to stay in positive territory and closed the range bound session with small gains.Nifty, after making low of 4788 on Friday made 4888 as low on Monday both looks fancy and holding 4888 then 4980 & 5050 is possible in market. Nifty after a strong open failed to rally above 4937 which gives an impression that any rally selling pressure is high, with many stocks showing weakness. Nifty below 4860 only weakness would come, till then rally above 5085 which is 200DMA is possible before fresh selling. The rupee on Monday plunged below the psychological 55-level to close at all-time low of 55.04 against the dollar amid robust demand for the US currency from banks and importers.
No comments:
Post a Comment