Indian shares slumped on Tuesday amid fears over contraction of growth in the near term post demonetization while rising US bond yields sparked concerns over foreign capital outflows. Banking stocks did well on expectations of a reduction in cost due to the significant increase in the deposits of the banks. India’s wholesale price index-based inflation eased to a four-month low of 3.39% in October from 3.57% in September even though the rate of price rise was up slightly in both manufactured and fuel items comprising almost 80 per cent of the index. The S&P BSE Sensex ended down 514 points at 26,305 and the Nifty50 settled 188 points lower at 8,108.
SBI, TCS, Dr Reddy’s Labs, Wipro and HUL were top gainers, while Tata Motors, Tata Steel, Asian Paints, Maruti and HDFC were losers in the Sensex.
Nifty Trend Prediction for Tomorrow
RESISTANCE:8234 , 8359
SUPPORT: 8081 ,8035
APPROACH: SELL ON HIGH
Free Intraday Tips :: 16/11/2016 (Wednesday)
SELL MAMAPPURAM BELOW 72.6 TARGETS 71.9 , 71.2 , 70.5 STOPLOSS 74
SELL JMFIFNANCIL BELOW 57.9 TARGETS 57.4 , 56.9 , 56.4 STOPLOSS 58.9
BUY BALRAMCHIN ABOVE 120 TARGETS 121.2 , 122.4 , 123.6 STOPLOSS 117.5