The stock market fell sharply by 1.4 percent amid retaliatory fire on insurgents at Myanmar border on Wednesday, and after Fed chair signaled the possibility of rate hike by December this year. The NSE Nifty closed below psychological 9,800 level ahead of expiry of September derivative contracts on Thursday. The fall was driven by selling pressure across sectors. Nifty Pharma and PSU Bank indices fell the most among sectoral indices, down 3 percent each followed by auto, FMCG and infra. Equity benchmarks slipped for seventh consecutive session today. The 30-share BSE Sensex was down 439.95 points or 1.39 percent at 31,159.81 and the 50-share NSE Nifty plunged 135.75 points or 1.38 percent to 9,735.75.
Nifty Trading Tips for Tomorrow – (28th September: Thursday)
TREND: CONSOLIDATE TO BEARISH
RESISTANCE: 9865, 9995
SUPPORT: 9660, 9585
APPROACH: SELL ON HIGH