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MTECHTIPS
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Mtech Tips
MTECHTIPS EQUITY INDEX MARKET NEWS
MTECHTIPS:-NIFTY
Nifty gave a flat to negative opening taking cues from the world markets, the
indices witnessed a sideways volatile session intraday.
The markets dipped to test
lows around 5250, small...
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MTECHTIPS EQUITY INDEX MARKET NEWS
MTECHTIPS:-NIFTY
Nifty gave a flat to negative opening taking cues from the world markets, the
indices witnessed a sideways volatile session intraday.
The markets dipped to test
lows around 5250, small recovery helped the index to close with small losses.
Nifty
made a lower low and the downfall continued till 5239 but closed around its
50DMA levels at 5359.
Today nifty has to cross 5290 and hold 5280 levels on a
closing basis so as to make a good base as it looks to move towards 5400-5450
levels in the days to come.
Failing to do so would pull the Nifty till 5180 from
current levels if the Nifty goes below 5220 on a closing basis.
Nifty has made a
falling wedge like pattern which would be confirmed only if the close comes above
5280 for a couple of trading sessions.
FII investment in the country s equity market
has reached Rs.
63,070 crore so far this year, With GAAR likely to postponed by 3
years it can boost confidence of FIIs.
MTECHTIPS:-SENSE
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