NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 7225
SUPP 2: 7165
RES 1: 7385
RES 2: 7450
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Nifty Technical Overview:
Nifty futures opened with positive note and witnessed
bearish movement for the day. It showed slight recovery in later part of the
day but overall ended on negative note. Tomorrow nifty future is expected to go
downside if it sustain below the level of 7350 then it can test the level of
7230-7180.
INDIAN MARKET OVERVIEW
The sell-off in equity benchmarks continued for second
consecutive session on Thursday with the Sensex closing below psychological
7300-mark for first time since Jun 2, 2014. Nifty future down 16 points at
7290.
The 30-share BSE Sensex fell 99 points at 23962. The market
breadth was slightly strong as about 1322 shares advanced against 1275
declining shares on the BSE.
Telecom operator Idea Cellular 's third quarter consolidated
net profit declined 5.6 percent sequentially to Rs 764.2 crore, impacted by
lower margin & other income and higher interest cost.
Exide Industries fell 4 percent after the company missed
revenue estimates in December quarter, which fell 2 percent. Bottomline and
operational performance was ahead of estimates.
GLOBAL MARKET OVERVIEW
Markets in Asia came off session highs, but mostly traded
higher Thursday, despite another selloff on Wall Street overnight, with the
region showing a mild recovery after concerns over China and fresh lows for oil
prices spurred a global rout.
Japan's Nikkei 225 retraced some gains, South Korea's Kospi
see-sawed between gains of 0.68 percent at market open and losses of 0.38
percent before trading up 0.19 percent.
The yuan was barely changed Thursday despite a weaker fixing
by the People's Bank of China, trading around 6.5794 against the U.S. dollar
compared with Wednesday's official close of 6.5796.
The Dow Jones industrial average ended 1.56 percent lower at
15,766 points
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