Moneycontrol
Last Updated : Sep 27, 2018 04:05 PM IST | Source: Moneycontrol.com

Buy or Sell I Remain cautious on Nifty; HCL Tech looks attractive on charts

Swati Hotkar, technical research analyst at Nirmal Bang Securities says, going ahead, the depreciation in the rupee, the movement in crude oil prices and the US-China trade war will weigh on the market in near-term.

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Bears have been in control of the market since the last four to five trading session and the carnage may not be over yet, explains Swati Hotkar, technical research analyst at Nirmal Bang Securities.

Going ahead, the depreciation in the rupee, the movement in crude oil prices and the US-China trade war are likely to weigh on the Indian market in the near-term.

Based on technicals, the Nifty is likely to face resistance around 11,240 and 11,270 levels, and a crucial support is placed at 10,866. If the index breaches this level, then selling pressure could extend further.

A breakout above 11,270 could strengthen the position of bulls while a breakdown below 10,866 could fuel selling pressure.

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First Published on Sep 27, 2018 04:05 pm
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