NIFTY TREND 04 SEPT 2013

s2Indian markets crashed with indices plunging near 4% due to global issues such as trade on fears of Syria attack while it was most hurt by weakening of rupee. Nifty future opened on a flat note and then it washed off the three day gain on daily charts as a free fall was seen after breaching the support level of 5480. Now, nifty is again in the bear zone where 5290-5200 is seen as a major support range while 5400 will act as immediate resistance for it.

TREND: SIDEWAYS

SUPPORT : 5290 & 5240

RESISTANCE: 5400 & 5440

Daily Markets Trend-

  • BSE Sensex loses 651 pts, Nifty slips 4%; Bankex falls 5%.
  • SAIL climbs as August sales grow 16%.
  • Adani Ports plunge after MoEF imposes penalties.
  • Power Grid to divest 20% stake via FPO.
  • IIFCL plans to raise at least Rs 2 bn via tax-free bonds.

Intraday Stock Calls-

ABAN EQ SELL BELOW 208.70 TARGETS 206.60/204.50/203.50 SL 210.80

IDFC EQ SELL BELOW 78.50 TARGETS 77.70/76.90/76.10 SL 79.30

Future Stock Calls-

DLF FUT SELL BELOW 127 TARGETS 125/123/121 SL 129

JINDALSTEEL FUT SELL BELOW 218 TARGETS 216/214/212 SL 220

 

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