It was a most unstable week for the markets where both benchmarks NSE BSE with all sectoral indices closed with significant losses. As anticipated, with the steep fall across global markets the Indian Equities also seen the loss with the BSE Sensex down by over 300 points and the NSE Nifty closed below the 4850 mark and the Bank Nifty closed with 7.5% loss.
Top NSE BSE gainers were: DLF, Jaiprakash Associates, Hero Moto Corp. , Hindalco, Tata Power, IRB Infrastructure, Ashok Leyland, JSW Steel, Petronet LNG, Indiabulls Real Estate.
For the next week, focus would be on the global markets. And also there is no clarity on European crises as well as US Debt issues and also in India there is a major political mess going around. These factors are directly affecting the markets and trading.
Although Nifty managed to close well above the day low. We are going to see the August F&O expiry which will give some support to our markets.
Major supports in the market from the current levels are placed at 4,770-4,720 levels. Immediate resistance can be seen near 5,120 levels.
Bajaj Auto Ltd.-
CMP- 1427.15 Rs
BUY Above-1430.95 Tgt1-1441.7 Tgt2-1445.3 SL-1419.9
SELL Below-1407.55 Tgt1-1396.9 Tgt2-1393.4 SL-1434.3
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