Today Market Movement..

NIFTY TOOK A 50 POINT DIP TODAY AND THEN PARTIALLY RALLIED FROM THE LOW. CHOPPY MARKETS SUGGEST UNCERTAINTY. EITHER NIFTY IS STARTING A CORRECTION, OR THE CURRENT CHOPPY MOVE IS A CONSOLIDATION FINALLY LEADING TO A RENEWAL OF THE UP MOVE.

·   Correction continues in Bank Nifty and prices closed below to 15000. The sector may underperform the Nifty and soon it may find support. Below the first support comes at 14500.

·        Trend is down in CNX IT. Prices are in a phase of correction. Above the resistance comes at 9100 where as below the support comes at 8700. A close above or below these levels will decide the next direction in IT Index.

·        Trend is up in FMCG Sector. Prices have seen a breakout from a consolidating at its top. We may get a buying opportunity in outperforming FMCG Stocks like BATA INDIA, GODREJIND, HUL and ITC. Look for a buying opportunity in these stocks.For more http://bit.ly/1n1FKKe