Nifty Trading Tips for Tomorrow (22nd August) – Expert Prediction

The markets ended lower for the second straight session after index heavyweight Infosys shed as much as 5.6% following Friday’s about 10% plunge after Vishal Sikka resigned as the chief executive and managing director on the back of a fall-out with the company’s founders. Market failed to retain its opening strength due to continued pressure on IT major, despite a premium buyback announcement. Furthermore, pullout of foreign funds and persistent miss in quarter earnings led the market to consolidate. Multiple brokerages, including Nomura, also downgraded the stock. Broader markets underperformed the benchmark indices with BSE Midcap and BSE Smallcap down 1.4% and 1% respectively. The S&P BSE Sensex ended at 31,258, down 265 points while the Nifty50 index settled at 9,754, down 83 points.

Nifty Trading Tips for Tomorrow (22nd August) – Expert Prediction

nifty tips for tomorrow
NIFTY POINT OF VIEW
TREND: BEARISH TO CONSOLIDATE
RESISTANCE: 9880, 9930
SUPPORT: 9740, 9690
STRATEGY: SELL ON HIGH

CASH CALL : BUY SARDEAN ABOVE 388 TARGETS 393.5 , 399 , 404.5 STOPLOSS 377
CASH HNI CALL : BUY BEPL ABOVE 89.2 TARGETS 90.4 , 91.6 , 92.8 STOPLOSS 86.8
CASH CALL : BUY FRETAIL ABOVE 503.5 TARGETS 510.5 , 517.5 , 524.5 STOPLOSS 489.5