Wednesday, 24 February 2016

Live Nifty Market Trend and Technical Overview

Sensex extends losses, Nifty holds 7050; Infosys, HUL, Maruti up Infosys, HUL, Reliance Industries and GAIL were gainers in morning trade. Maruti Suzuki gained 0.2 percent after the company resumed its production of vehicles in Gurgaon & Manesar facilities.

Nifty Technical Overview:
Nifty futures opened with negative note and witnessed bearish movement for the entire day and closed on lower note. In daily chart it formed long bearish candle so further bearish movement is expected in coming session if it sustain below the level of 7150 and break 7090.

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The market lost more than 1.5 percent on Tuesday after rallying in previous four consecutive sessions. Profit booking and global weakness caused selling pressure today. Nifty future down 127 points at 7113.
The 30-share BSE Sensex plunge by 378 points at 23410. The market breadth was weak as about 674 shares advanced against 1929 declining shares on the BSE.
IDBI Bank has a three-tier fund raising plan which include sale of non-core assets, preferential allotment and qualified institutional placement (QIP), adding that the funds will be raised according to requirement.

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