Intraday Stock Market Trend

Markets were extremely volatile for the whole session as it continued the bearishness and remained lower for the first half of the session while positive European markets helped the indices to pull back towards resistance levels and finally closed in green gaining approx 0.80%. Nifty future breached 7000 but soon showed pull back and closed above 7120.The index has been trading sideways since last few sessions where 7220 is seen as major resistance while 6970 as support on the daily charts.
TREND: SIDEWAYS:
SUPPORT : 7070 & 7000
RESISTANCE: 7170 & 7210
MARKET GOSSIPS:

  • Nifty ends above 7100 mark supported by index heavyweights.
  • Bank of India tanks after S&P revises outlook to negative.
  • Just Dial has gained 19% on the back of heavy volumes.
  • Dr Reddy’s Lab surged 5% after the company’s board approves share buyback proposal.
  • Rural Electrification Corp hits fresh low as stock turns ex-dividend today.
  • Chennai Petro extends gain on the back of strong Q3 numbers.
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