Stock Market News 07 August 2013

Markets plunged further in the post noon trade due to depreciation in rupee and bloodbath took it towards deeper support levels surpassing all major supports. Nifty future on daily charts surpassed major support level of 5600 and closed below the trend line coming from previous lows. Now, the most key support level is seen near 5500-5480. While, immediate resistance is seen around 5640 above which certain correction is expected.

TREND: SIDEWAYS

SUPPORT      :  5530 & 5480

RESISTANCE:   5620 & 5680

Daily markets Trend

  • Bloodbath at Dalal St: Sensex, Nifty crumble 2%; rupee weak.
  • Asian shares fall to 2-week low; Nikkei bucks trend.
  • Tata Power slumps to 4-year low, down 18% on Q1 net loss.
  • Crompton Greaves Q1 net drops 30% to Rs 60 cr on power woes.
  • Karur Vysya Bank Q1 profit falls 17.2%.

Stock Intraday Calls –

HINDALCO EQ SELL BELOW 84.50 TARGETS 83.65/82.80/82 SL 85.40

IDFC EQ SELL BELOW 102 TARGETS 101/100/99 SL 103.10

Stock Future Calls-

CAIRN FUT SELL BELOW 289.25 TARGETS 287.25/285.25/283.25 SL 291.30

TCS FUT BUY ABOVE 1881.50 TARGETS 1889.50/1897.50/1905.50 SL 1873.50

 

 

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