Tuesday 11 September 2018


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On Monday, the market saw huge sell off during the day and closed with a big negative sign. Meanwhile, Asian and European markets also remained mixed.

Weak rupee was the main concern for Indian market and at the end of Monday, Nifty closed at 11,438.1, down by 151 points from previous close.

Indian rupee hit fresh low of 72.67 against the dollar which creates more worries over fiscal slippages. Banking and NBFC stocks were top losers due to weak rupee.


Nifty has formed big red candlestick with lower top which is negative. Short-term moving averages turned negative.

For today's trading, 11,393 will act as strong support. Break of this level with volume will create fresh panic up to 11,359-11,340. On the upper side, 11,500 will act as strong resistance.

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