NIFTY SPOT: 8203.70
Nifty Future R1: 8254 R2:8303 R3: 8353
Pivot: 8204 S1: 8154 S2:8104 S3:8055
- Nifty closed on at 8203.70 On Wednesday. Bulls and bears have been indecisive. Recovery may be continuing above 8200 levels else selling pressure may be seen. On upside, Nifty has important resistance at 8250 levels. On downside, support is at 8050 levels.
- Mechanical indicator stochastic RSI also showing consolidated trend.
NIFTY FUTURE:- At 3:30 PM, the S&P BSE Sensex ended at 26,765 down 47 points, while NSE Nifty is trading at 8,203 down 16 points. The BSE Mid-cap Index is trading down 0.12% at 11,405, whereas BSE Small-cap Index is trading down 0.60% at 11,450. The INDIA VIX is up 5.35 % at 18.1850. Out of 1,815 stocks traded on the NSE, 1062 declined, 507 advanced and 247 remained unchanged today. The Indian rupee opened lower by 9 paise at 67.59/$ against US Dollar on Wednesday as against the previous close of 67.48/$.
INTRADAY STRATIGY:- Buy Nifty future above 8210 for the tgt of 8260-8320 sl 8140.
- Shares of Max Ventures and Industries, one of the three companies formed after the demerger of Max India Limited hit the upper circuit of 5% after being listed on the bourses for the first time on Wednesday.
- Force Motors inaugurated their new 100 crores facility in Pune. The plant is meant to supply engines and axles to Mercedes-Benz.
- Shares of Tata Coffee went up by 7.47% after coffee prices gained further, hitting a 13 month high level. Heavy rains at the time of harvest can hit the coffee crop. Hence, coffee might not turn out to be a bumper crop as it was projected for this year..