Nifty and sensex looking under pressure, Nifty also slipped below from its psychological level of 7700. while sensex losses down by over 100 pts led by losses in GAIL, HDFC, NTPC, M&M, sesa sterllite, tata power.
The Indian rupee opened weak. The rupee slipped 20 paise at 60.75 per dollar versus 60.55 Thursday..
From precious metals space, gold was stuck near a six-week low and headed for a third straight weekly loss.
In the US, stocks tumbled yesterday with the Dow and S&P 500 posting their first monthly drop since January, as investors worried about Europe’s economy, an Argentine default and a jump in US labour costs prompted concerns about corporate margins. Slipping into the red for the year, the Dow Jones industrial average lost over 300 points. The CBOE volatility index jumped 27% to 16.95.
NTPC Ltd SELL target 139/137/ 135 and a stop loss of Rs 150.
Tata Power Ltd SELL call with a target of Rs 95/94/93 and a stop loss of Rs 99.8.