DAILY MARKET ANALYSIS
ECONOMY ANALYSIS
- Nifty ends Sept F&O series above 7900, Sensex tanks 276 pts
- ONGC slips 4% on gas price hike deferral, BoAML cuts EPS
- JP Power down 13%, hydro assets deal with ADAG called off
- ADB upgrades India FY16 growth target to 6.3%
- AirAsia to fly Mumbai, Delhi; eyes 20 planes by 2015
- Coal verdict: Andhra Bank has Rs 43 bn exposure to cos
MARKET ANALYSIS
- Tracking the momentum, the 50-share Nifty index slipped below its crucial psychological support level of 7900, but managed to claw back towards the fag end of the trade to close at 7911.85 level. The fall in the index was led by losses in power, realty, oil & gas and banking stocks.
- The 30-share index closed at 26,468.36, down 276.33 points or 1.03 per cent. It touched a high of 26,814.20 and a low of 26,349.55 in trade today.
- The Nifty ended at 7,911.85, down 90.55 points or 1.13 per cent. It touched a high of 8,019.30 and a low of 7,877.35 in trade today.
- October is a month with less trading sessions. So the movement would be volatile with more of gap up - gap downs, caution analysts.
- The index is making a Doji candle on Monthly chart. After the run up of the last seven months, if it doesn't settle above 8,000 and sustains below 7,950 levels, then this positive rally may end. We may see lower levels of 7,840 & 7,700.
No comments:
Post a Comment