Indices opened in green, but immediately slided in the negative territory. and remor ained there for the rest of the day. Nifty closed below 4300 at 4291 down by 99.85 points or 2.27%. Nifty made a low of 4267, and a high of 4391.50. Sensex lost 291 points to close at 14493. Real Estate and developers shares have been shuttered in todays trading session. The companies which are lined up for the fund raising, and whose shares have seen pheonomenal rally in the past weeks were the shares which triggered the indices fall by around 2.50%. In my last blog i had mentioned that the indices have closed below their 20DMA. But acc to me, the Indices should go up, but a huge selling triggerd the Indices to close down. Nifty support levels were aat 4315-4325, but have closed below. Nifty will find support at 4270-4240-4205 in extreme case.
I had given call on TCS to buy above 397 above 405 wil see some fast moves. But that did not triggered and the stock closed at 389.70.Infosys looks week.