Tuesday, 9 February 2016

Live Nifty Market Trend and Market Update



Nifty Technical Overview
Nifty futures opened with flat note and witnessed upside movement for most part of the day but sustained below 7530 level and plunged in last hour of the day by more than 100 points up to the level of 7370. Tomorrow bearish movement in expected if it sustain below the level of 7430.
Bank Nifty Technical Overview
Bank Nifty futures opened with flat note and witnessed upside movement up to the level of 15400 and plunged in last hour of the day by more than 400 points to 15000 levels. Tomorrow bearish movement in expected if it manages sustains below the level of 15150 then below 15000 it can test 14900-14800.

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INDIAN MARKET OVERVIEW
Last-hour sell-off sends the market tumbling. The market was flat throughout the day but last hour of trade saw a sharp nosedive tracking a sell-off in European markets. Nifty future down 125 points at 7393.
The 30-share BSE Sensex plunged 329 points at 24287. The market breadth was weak as about 1193 shares advanced against 1491 declining shares on the BSE.
Pharma company Ipca Laboratories disappointed analysts with its third quarter earnings on Monday. Profit declined 44 percent year-on-year to Rs 23.18 crore and revenue slipped 7.6 percent to Rs 684.11 crore during the quarter, hit by exports.
Shares of Jet Airways jumped over 8 percent intraday on Monday after it announced highest ever quarterly profit in October-December. Fuel cost which fell 27 percent in Q3 aided its profitability with total income growing 7.7 percent to Rs 5444 crore against Rs 5051 crore on annual basis.

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