Today the market opened with the bearish note. I am not so concerned about the market because is for dollar investors, he is get a raw deal as the rupee weaker, today the Indian rupee at 66.28 per dollar versus yesterday.
While market is opened on a green note but soon turned flat.The sensex is up 14.79 or 0.86% or 18749.45 and the Nifty flat with 1 point 0r 0.02% or 5503.15.
Stock specifically lead gainers in the sensex are Bharti airtel, BHEL, tatamotors, coal India while nifty gainers are ONGC, DLF, Tata steel,Coal India,Lupin.
This month is historically worst month of the year for stocks traders because this year is particularly challenged by a series of major events that market will have to navigate. Besides an expected military response to Syria’s use of chemical weapons and the traders wait for the job report, market are focused on the fed’s September .
Best nifty Support level and resistance-
The trend is still weak and if nifty strongly stays above 5600 it can change with bull side,so today upper side intraday resistance are 5582 and 5608 level and on downside.
And intraday support for Nifty 5494/5456/5424.