Market Update

Nifty start on a flat to positive note at 26100, amid US market rebound on Friday. 26050 & 25980 are key support levels to watch out, breaching below same may jeopardise Up trend in short-term.

HPHarsh Patel · FounderSEBI Registered Research Analyst · INH000024675

As of 10:12 IST

Nifty may attempt to climb above life-time high of 26277 above 26180, OI data suggest market may trade choppy between 26150-26050 in the 1st half.

Signs of sector rotation from high beta sectors like banks & NBFCs, metals to IT, FMCG is visible on charts, IT stocks may do well this week in choppy market however remain vulnerable to sell-offs.

IndiaVix is rising above 13 for the 2nd day is suggesting higher volatility in the market for the week ahead.

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Market Analysis

Nifty gave Relief Bounce, But Bears Still In Control

After yesterday's sharp selloff, market opens higher to 23,200 and makes intraday high of 23281 for a flash.

The Nifty cracks to 23300, after opening higher to 23592.

Nifty completed the mentioned correction to 23600 with a gap up move.

The market heads down as oil price goes parabolic

Yesterday we mention RSI was indicating strong down trend.

Harsh Patel

Sep 11

2 min read

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Nifty gave Relief Bounce, But Bears Still In Control

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