OUTLOOK FOR THE DAY

NIFTY FUTURES (F & O)

Support at 4537 level. Below this level, selling may continue up to 4504-4506 zone by non-stop.

Hurdle at 4561 level. If crosses then expect short covering up to 4567-4569 zone and thereafter it may touch 4578 level.

Sell if touches 4599-4601 zone.

Stop Loss at 4609-4611 zone.

On Negative side, break below 4472-4474 zone can create panic selling up to 4462-4464

zone and thereafter free fall may start.

Short-Term Investors:

Reversal (Negative) is seen. Exit on Rallies.

Short-Term Upward Target at 4641-4643 zone.

Short-Term Support at at 4431-4433 zone.

---Bears started dominating. But it looks like that it may be false signal also. Expectation is that 50:50 chance for both Bulls & Bears today.-

 

 

SUBEX AZURE (NSE Cash): Avoid Short Selling in this scrip.

Support at 95 level. Expected to rebound at around this level. If not, then problem for bulls too.

Hurdle at 105 level. Supply expected at around this level. This supply should get absorbed too.

CMC FUTURES (NSE): Likely to go down.

If breaks & sustains at below 513 level then downtrend may start and have caution.

Hurdle at 570 level. Supply expected at around this level. This supply should get absorbed too

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The Dow Jones Industrial Average closed at 11,532.96. Down by 109.51 points.

The Broader S&P 500 closed at 1,285.83. Down by 3.76 points.

The Nasdaq Composite Index closed at 2,428.62. Down by 1.99 points.

The partially convertible rupee <INR=IN> ended at 42.65/66 per dollar on yesterday, weaker than 42.37/38 at close on Tuesday.

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