Nifty Made a Top of 11760 and as expected there was profit booking at Higher levels and Nifty failed to trade above 11600.
Old Note for Reference Gave clear Profit booking call on every Rise.👇👇👇👇
Nifty has broken crucial Support level of 11490 & 11440.A close below 11440 on nifty would be level to watch for as below those levels more weakness can expected or else it can bounce Till 11540/560 levels.
We@ wealtucreatures feel Nifty can Test 11100 on lower side only if Nifty slides below 11333.we can also expect small bounce from 11333 levels on Nifty.
Currently Rising Crude & Weakness in Rupee are dampner to markets & sentiments.
We see Rupee to Top out around 72-72.75 levels and If Brent crude cool off from $80-82 levels can be positive for markets. If rupee continues its weakness & Crude keeps its upward journey there would be more worries for markets.
If Bank Nifty shows leadership than downside can capped till 11333/11200 on Nifty.Bank Nifty has strong support @26900 and can bounce from those levels Till 27750/28000 levels.
We are still positive on select midcap & small cap once market stablise it would be again back in action and can outperform Broader markets.
Disc – All views expressed are for educational and study purpose only.consult your financial advisor before investing.