Today Nifty Future Market Update By Capitalheight

Nifty future fell more than 1.5 percent on global weakness dragged by banking & financials, technology and metal shares. Nifty future fell by 120 points to end at 7731.

NIFTY TREND: CONSOLIDATE

NIFTY SPOT LEVELS

SUPP 1: 7715

SUPP 2: 7630

RES 1: 7835

RES 2: 7910

The Cabinet on Wednesday has approved proposal to sell 10 percent equity stake in Coal India, the country's largest coal mining company.

The Government of India currently has 79.65 percent equity shareholding in the Coal India while foreign institutional investors have 9.04 percent stake and domestic institutional investors 8.44 percent stake as of September 2015.

Bank Nifty Technical Overview:

Bank Nifty Future opened with flat note and traded in range to form bearish head and shoulder pattern. In later part of the day it fell sharply by giving break out of H&S pattern and major level of 17100. Tomorrow it can trade downside to touch the level of 16700 and 16630.

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