I hope those who read my earlier blog must have booked the profits and parked their funds in Debt instruments where capital is safe. As I mentioned, Nifty came down by almost 1000 points and made a low of 5720 (Sensex – 15765). Nifty confirmed the down trend once it broke the major support of 5175 (17300). Now that support (5175) has become major resistance. Nifty tried to break the same twice but couldn’t succeed.
Today S&P CNX DEFTY (Nifty in terms of Dollar) has broken its previous low. Because of that FII sold the shares with volumes. Still we have not seen panic in the market but once Nifty breaks 4720; we may see a huge sell off in the market.
Till today FMCG sector has not given Sell but tomorrow we may see selloff in that sector too. If FMCG sector also becomes bearish that confirms down trade has started.
Sectors looking weak on charts:
Capital Goods, Metals, Oil & Gas, Power
Sectors may outperform the market:
IT, Pharma & FMCG
To conclude, this is the last chance to exit from equity market, we may see a huge sell off and Nifty can go down to 4400, 4200 and then 3750. Happy Trading!!!!!!
Today S&P CNX DEFTY (Nifty in terms of Dollar) has broken its previous low. Because of that FII sold the shares with volumes. Still we have not seen panic in the market but once Nifty breaks 4720; we may see a huge sell off in the market.
Sectors looking weak on charts:
Capital Goods, Metals, Oil & Gas, Power
Sectors may outperform the market:
IT, Pharma & FMCG
To conclude, this is the last chance to exit from equity market, we may see a huge sell off and Nifty can go down to 4400, 4200 and then 3750. Happy Trading!!!!!!
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