Markets plunged for the second consecutive session and washed off all gains and closed around their crucial support negating approx 2% from previous close. Nifty future was not able to maintain above 6000 mark for the whole session and found support around 5900. On daily charts, it is expected to find strong support of 5850 around 200 day SMA as well as trend line coming from previous lows. On higher side, 6000 is again seen as key resistance for the index.
SUPPORT : 5870 & 5830
RESISTANCE: 5970 & 6020
Daily Market Trend
- Sensex plunges 363 points to settle below 20,000.
- Metal stocks gain on positive Chinese PMI data.
- DLF loses Rs 52.7 bn in m-cap as stock falls 17.3% in two days.
- Titan shares gain after resumption of gold imports.
- Dr Reddy’s plunges nearly 2% on patent infringement suit.
Intraday Stock Calls
ONGC EQ SELL BELOW 274.60 TARGETS 271.90/269.20/268.60 SL 277.40
ZEEL EQ SELL BELOW 220 TARGETS 217.90/215.70/213.50 SL 222.20
FUTURE STOCK CALLS
ITC FUT BUY ABOVE 352 TARGETS 354/356/358 SL 350
YESBANK FUT SELL BELOW 325 TARGETS 321/317/313 SL 329