8:46 AM
Unknown
The Nifty closed at 4889 with a loss of 60 points and the August futures was quoting at a discount of 13 points. Nifty has corrected by almost 10% and is trading at a 15-month low breaking strong supports of 5200/5000 levels during the month. All sectors have corrected but global plays such as IT, metals, banking and real estate have been hit worst. The Nifty can consolidate in the coming months as 5180, which was a key support until broken, will now act as a major resistance. Support exists at 4780 levels and 4675.
So we can incite Buy on dip’s keeping 4780 & 4675 as closing stop loss, While Updating SGX is +45