The BSE Sensex slipped 1.2 per cent early on Thursday with Infosys, ICICI Bank andReliance Industries leading the losses.
"On the back of strong global cues, we opened with a gap-up on Wednesday. However, based on charts 4750 is a critical resistance level and markets will find it difficult to cross. Further, if the Nifty index sustains above 4750 we could probably head towards levels of 4,820 on the upside. On flip side, a fall below 4,600 could once again increase downward momentum,
"Today on dips short term traders can buy Nifty with a strict stop loss of 4600,
BSE index was trading 0.9% lower at 15,538.47 points led by losses in Infosys Ltd (down 2.2%), ICICI Bank (down 1.6%) and RIL (down 0.9%).
Technical check:
"The trend deciding level for the day is 15,597 on the Sensex and 4,667 levels for the Nifty. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 15,816 - 15,947 / 4,733 - 4,773 levels,"
"However, if sensex/Nifty trades below 15,597 / 4,667 levels for the first half-an-hour of trade then it may correct up to 15,466 - 15,246 / 4,628 - 4,562 levels,"
"On the back of strong global cues, we opened with a gap-up on Wednesday. However, based on charts 4750 is a critical resistance level and markets will find it difficult to cross. Further, if the Nifty index sustains above 4750 we could probably head towards levels of 4,820 on the upside. On flip side, a fall below 4,600 could once again increase downward momentum,
"Today on dips short term traders can buy Nifty with a strict stop loss of 4600,
BSE index was trading 0.9% lower at 15,538.47 points led by losses in Infosys Ltd (down 2.2%), ICICI Bank (down 1.6%) and RIL (down 0.9%).
Technical check:
"The trend deciding level for the day is 15,597 on the Sensex and 4,667 levels for the Nifty. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 15,816 - 15,947 / 4,733 - 4,773 levels,"
"However, if sensex/Nifty trades below 15,597 / 4,667 levels for the first half-an-hour of trade then it may correct up to 15,466 - 15,246 / 4,628 - 4,562 levels,"
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