Markets

Nifty call: Sell on rallies while maintaining stop-loss at 7,115 

Yoganand D BL Research Bureau | Updated on January 20, 2018 Published on February 24, 2016

nse

Nifty 50 February futures (7,069)

Following a positive open at 7,135, which is also the intra-day high, the Nifty futures started to decline. The contract breached a key support at 7,100 and fell sharply to mark an intra-day low at 7,028.

Taking support at the intra-day low, the contract has managed to recover some intra-day losses. The near-term outlook will remain bearish as long as the contract trades below 7,110 levels.

Traders with a short-term perspective can make use of rallies to sell the contract while maintaining a stop-loss at 7,115.

A downward reversal can retest supports at 7,050 and 7,030. An emphatic fall below 7,030 can pull the contract down to 7,000 levels. However, only a decisive rally above the key resistance level of 7,110 can bring back some signs of bullish momentum. The next resistances are at 7,135, 7,150 and 7,175 levels.

Strategy: Make use of rallies to sell the contract while maintaining a stop-loss at 7,115 levels.

Supports: 7,050 and 7,030

Resistances: 7,110 and 7,135



Published on February 24, 2016

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.