Indian 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.
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