STOCK NIFTY TECHNICAL REPORT 08 NOVEMBER

Markets continued to trade in correction mode and bears captured for the third consecutive session and closed around their strong support levels. Nifty future opened on a flat note and rebounding was seen on higher levels due to profit booking and weak European markets. Closing below the lower band of channel indicates bearishness to continue where strong support is seen near 6190. Immediate resistance which is seen ahead is around 6270.

TREND: SIDEWAYS

SUPPORT      :  6190 & 6150

RESISTANCE:   6270 & 6340

DAILY MARKET TREND

  • Sensex ends lower; realty, CD, banks drag.
  • TechM Q2 consolidated profit rises 57.6%; up 4.7% q-o-q .
  •  India Cements Q2 disappoints, posts net loss at Rs 22.5 cr.
  • Tata Coffee posts Q2 loss at Rs 12.8 cr on provisions.
  •   GATI back in black; stock rallies 7% on strong Q1 results.

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STOCK NIFTY TECHNICAL REPORT 08 NOVEMBER

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