Stocks market is seeing negative , both benchmark indices traded with 0.50% decline. Selling of Auto, Pharma, Realty shares creates pressure, all sector index are negative at NSE except Metal index. Pharma index down 2%, Auto index decline 1%.
According to experts market is currently weak and investors should do profit booking. Bank NPA expected to increase and economic condition may worsen. Due to all these concerns we are consistently seeing selling from FII’s and domestic investors.
According to analyst Nifty may slip below 8200 level in short term.
Resistance 8317, 8382, 8431.
Support 8204, 8156, 8091.
Nifty Option Call strike price 8200 Expiry 30 April 2014 Sell below 100.60 Target 64.61 stop loss 135.00.