Markets tumbled and bloodbath was seen for the whole session and washed off the three day gains as rupee breached 66 per dollar mark and indices surpassed their support levels. Nifty future showed downtrend from the beginning of the session and dragged towards the important support of 5250. Now, crucial level seen is 5200 surpassing which bears may further drag towards the deeper supports. Any correction will find resistance in the range of 5350-5400.
SUPPORT : 5250 & 5200
RESISTANCE: 5350 & 5410
Daily Stock Market Trend-
Rupee recovers a bit; Sensex plunges 590 pts, banks bleed.
Cabinet committee approves power and infra projects worth Rs 1.83 tn.
IIFCL garners at least Rs 893 crore via tax free bonds.
Crisil to sell 49% stake in IISL for Rs 100 crore.
REC plans to raise Rs 3,500 cr via tax free public bond sale.
Intraday Stock Calls-
APOLLOTYRE EQ SELL BELOW 61.10 TARGETS 60.50/59.90/59.30 SL 61.75
ARVIND EQ SELL BELOW 72.90 TARGETS 72.20/71.50/70.80 SL 73.65
Future Stock Calls-
BPCL FUT SELL BELOW 288.50 TARGETS 286.50/284.50/282.50 SL 290.50
ZEEL FUT SELL BELOW 227 TARGETS 225/223/221 SL 229
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