Market dropped in the week ended Friday, 26 February 2016, as investor’s maintained caution ahead of next week’s Union Budget 2016-17. The Sensex regained psychological 23,000 level after falling below that mark during the week. The Nifty regained psychological 7,000 level after slipping below that mark during the week. The market fell in three out of five sessions of the week.
Sell Nifty Future below 6950 Target 6900, 6850 Stop Loss 7050.
The Sensex, dropped 554.85 points or 2.34% to settle at 23,154.30, in the week ended 26 february 2016. The losses for the Nifty were higher in percentage terms than those for the Sensex. The Nifty slipped 181 points or 2.51% to settle at 7,029.75.
On Nifty weekly chart strong support is seen at 6960. If it breaks with high volume, more bearishness is expected.
Nifty Trading Calls For Monday >>>>
SELL DISHTV FUTURE BELOW 67 TARGETS 65 , 63 61 STOPLOSS 71
SELL UNIONBANK FUTURE BELOW 106.5 TARGETS 103.5 , 100.5 97.5 STOPLOSS 112.5