Comments
Nifty 50 January Futures (10,859)
The domestic benchmark indices the Sensex and the Nifty started the session on a flat note. The Asian markets are showing mixed cues, the Nikkei 225 is down 1.3 per cent to 20,163 while Hang Seng index is trading flat at 26,474 levels. Subsequently, the Nifty and the Sensex began to decline due to selling pressure at higher levels. The market breadth of the Nifty is biased towards declines. The Nifty Bank index is witnessing selling pressure and has slipped 0.7 per cent in today's session, dragged by private sector banks. The Nifty January futures contract started the session in negative territory at 10,873 levels. After an initial rally to the intra-day high of 10,898, the contract began to decline. Key resistance at 10,900 is capping the upside. As long as the contract trades below this resistance traders should tread with caution. Supports at 10,840 and 10,830 can provide base. A decisive fall below 10,830 can drag the contract down to 10,800 and then to 10,775 levels. Significant resistances above 10,900 are at 10,925 and 10,950 levels.
Strategy : Key resistance at 10,900 is limiting the upside. Tread with caution
Supports : 10,840 and 10,830
Resistances : 10,900 and 10,925
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.