HDFC Bank, Bharti Airtel and M&M are the losers as the BSE Sensex slipped as much as 0.3 per cent early on Wednesday.
Rakesh Gandhi, Sr Technical Analyst of LKP Securities Ltd , reported ,”The 50-share Nifty index closed near its important support level of 4780 and if the index sustains above this level it will add further to the momentum.”
Indicating the current movement of Nifty, He further said, “From here, the current up move could once again weaken only if Nifty breaks below 4680 and from a trading perspective one can use declines to buy and exit if this level is broken on closing basis.”
According to the Sensex report, HDFC Bank Ltd by 1.3% down, Bharti Airtel with 1.8% and M&M by 1.7%, are leading losses at the time when the 30-share BSE index was trading 0.3% lower at 15,888.16 points.
A report released by Angel Broking, “The trend deciding level for the day is 15,850 on the Sensex and 4,738 levels for the Nifty. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,060 – 16,180/4,800- 4,835 levels.”
“However, if Nifty trades below 15,850/4,738 levels for the first half-an-hour of trade then it may correct up to 15,730 – 15,520/4,703 – 4,641 levels,” said the report.
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