Skip to main content
Nifty, Sensex Still Under Pressure

We had mentioned that Nifty, Sensex may try to stabilise and rally and if Nifty reclaims 8,400. However, a huge decline in the US markets the previous Saturday, followed up by crashing markets in Asia, led to a major fall in Indian markets.

Over the week, the indices recovered a little but the net loss over the week was 4%-5%. 
 
 

This week, both the indices continued to remain below the short term average of 20dma (Sensex – 27442 and Nifty – 8326), the medium term average of 50dma (Sensex – 27751 and Nifty – 8402) and even the long term average of 200dma (Sensex – 27957 and Nifty – 8449). Thus the trend in the short term, medium term and even the long term timeframe continues to remain bearish.
 
Volatility Index India VIX shot by massive 70% in Mondays trade itself. After closing the week around 23, it is aiming for a target of 39. Options data for September series indicates highest Put Open Interest build-up at the strike of 7400 and highest Call build-up is now at the strike of 8500. Thus Option data suggests a very wide trading range with resistance coming in at 8500 and support around 7400.

Comments

Post a Comment

Popular posts from this blog

Dalal Street Tower Talk

Dalal Street Tower Talk   Singer India (Rs 182)--Singer Is a MNC Company in Which Promoter Holding Is 75 % Its Likely To Achieve EPS of Rs 6 Along With 15 % Dividend For The Fourth Quarter ended june 2015.Their Is also Likelihood of a Strategic Corporate Anouncement   Amines And Plastic:-Some Movement Can Expected In The Stock In The Coming Days (Bonus Buzz)  
1 comment
Read more

SSPDL LTD Big Play

SSPDL LTD  It is a small company having presence in South India. It has presence in Chennai, Hyderabad, Kerala and Bangalore. Only BSE listed company. But Circuit Filter is at 20%. From Annual Report: Company is primarily focusing on the development of land, plotted lands, mid-size houses, etc. and reduce the construction contracts work. In view of the projects of the Company under execution and in pipe line, the management is expecting better prospects in future for the company. During the year under review Company given loan of Rs 2.80 crore bearing 18% interest per annum to M/s. BHEL Employees Model Mutually Aided Co-operative House Building Society Limited for meeting the shortfall of amount in paying stamp duty for registering plots in Society’s Name. Projects completed during the year 2014-15: - (1). Frangipani, Pudupakkam, and (2). Meeting House/Service Centre, Bangalore. Regarding Ongoing Projects: 23 Cr is yet to receive from IT park (Alpha City pro...
Post a Comment
Read more