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Morning Notes
make more, for sure.
MARKET OUTLOOK- CAUTIOUSLY OPTIMISTIC
TECHNICALLY SPEAKING: Indian equity markets extended their losses for the second consecutive trading session, just to turn bad to
the worst. The benchmark Nifty for a brief moment shot down to four months low and the broader indices too following the footsteps of their
larger peer edged lower in trade. The 30 share index-Sensex settled at 18,684.43 , while the broad based 50 share index-Nifty- settled at 5,604.30
respectively.
FAVORED SCENARIO: At current juncture sentiments seems to be favoring in bulls side though inflation still a major concern.
Technically 5580-5600 (200 dma) might be the crucial support zone. from last few sessions spot index shown cushions around 5600 and tends
to bounce back however closing below this level may open the flood gates and we might see some new lows of current fiscal near to 5400-5450.
VARIED SCENARIO: On the flip side any bounce back from current levels may reap indices towards 5800-5850 level where we might
see some sort of consolidation. Any break out above this may generate some suggestive buying opportunities though 6000-6050 might be
the next ress zone. HAPPY TRADING......
T O D A Y 'S M A R K ET LEV ELS
In d e x S u p p ort 2 S u p p ort 1 P re viou s Close Re sista n ce 1 Re sista n ce 2 T re n d
SEN SEX 18270 18410 18684 18810 18990 R ang ebo und
N IF T Y 5545 5580 5604 5655 5695 R ang ebo und
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Please refer to important disclosures at the end of this report For Private circulation Only For Our Clients Only
Mansukh Securities and Finance Ltd SEBI Regn No. BSE: INB010985834 / NSE: INB230781431
Office: 306, Pratap Bhavan, 5, Bahadur Shah Zafar Marg, New Delhi-110002 PMS Regn No. INP000002387
Phone: 011-30123450/1/3/5 Fax: 011-30117710 Email: research@moneysukh.com
Website: www.moneysukh.com