Nifty is trading below its 20 DMA and 40 DMA i.e. 5843 and 5862 respectively, which its crucial levels are going forward. If Nifty has broken 200 DMA i.e. 5600 then it can go down to 5400 level as selling pressure would come in market in coming days. The Nifty ended in the negative with a loss of 81 points while the Sensex declined by 281 points in today’s trading.
BSE index: (18685) 18807 & 18950 solid resistances up to which selling on higher levels will be seen, keep stop loss of 19087 to your shorts.
Downward side it'll fall down to 18534 initially which is a most crucial support to watch out for where buying support not ruled out. In any worst scenario break below 18534 it'll heavily crash down to 18391 & 18316-18288.
Nifty Spot: (5604) 5649 & 5685 solid resistances up to which selling on higher levels will be seen, keep stop loss of 5726 to your shorts. Downward side it'll fall down to 5560 initially which is a most crucial support to watch out for where buying support not ruled out. In any worst scenario break below 5560 it'll crash down to 5485-5470.
SBI: (2653) 2670-2690 solid resistance, keep stop loss of 2712 & go short. Expect it'll fall down to 2629 & 2603 initially. Break below 2603 it'll crash down to 2562.
BOI: (460) 468 & 474 solid resistances, sell. Expect 453 & 448 initially. Break below 448 it'll fall down to 440.
CAN Bank: (590) 597-603 solid resistance, keep stop loss of 608 & go short. Expect 581 & 572.
HDFC Bank: (2053) Break below 2028 it'll fall down to 2008 & 1970.
FED Bank: (360) Sell considering 361 & 372 solid resistance keeping stop loss of 377. Expect 349 initially. Break below 349 it'll crash down to 344 & 334.
BOI: (460) 468 & 474 solid resistances, sell. Expect 453 & 448 initially. Break below 448 it'll fall down to 440.
CAN Bank: (590) 597-603 solid resistance, keep stop loss of 608 & go short. Expect 581 & 572.
HDFC Bank: (2053) Break below 2028 it'll fall down to 2008 & 1970.
FED Bank: (360) Sell considering 361 & 372 solid resistance keeping stop loss of 377. Expect 349 initially. Break below 349 it'll crash down to 344 & 334.
CENTRAL Bank: (173) Sell considering 176 solid resistance keeping stop loss of 181. Expect 168 & thereafter 163.
INDUSIND Bank: (222) Sell considering 229 a solid resistance keeping stop loss of 234.50. Expect 211 & 204.
DR REDDY: (1553) Sell considering 1575 solid resistance keeping stop loss of 1595. Downward side it'll fall down to 1538 & 1520 initially. Break below 1520 it'll crash down to 1457.
RANBAXY: (542) Sell considering 545 & 555 solid resistances keeping stop loss of 561. Downward side it'll fall down to 526 & 508.
AUROBINDO: (1238) Sell considering 1253 a solid resistance keeping stop loss of 1265. Downward side it'll fall down to 1215, 1196 & 1165.
INDUSIND Bank: (222) Sell considering 229 a solid resistance keeping stop loss of 234.50. Expect 211 & 204.
DR REDDY: (1553) Sell considering 1575 solid resistance keeping stop loss of 1595. Downward side it'll fall down to 1538 & 1520 initially. Break below 1520 it'll crash down to 1457.
RANBAXY: (542) Sell considering 545 & 555 solid resistances keeping stop loss of 561. Downward side it'll fall down to 526 & 508.
AUROBINDO: (1238) Sell considering 1253 a solid resistance keeping stop loss of 1265. Downward side it'll fall down to 1215, 1196 & 1165.
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