Nifty has broken its crucial support of 8550. From the opening of the market, it was clear that Nifty was in pressure.Though it opened in green but it failed to sustain the opening level.The signs were clear in its morning trade that big moves could take place in the afternoon trade.European Markets also opened lower.8550 was a crucial support for Nifty.This breaking of support can lead to further fall to 200 to 300 points in Nifty in upcoming days.Traders should take their positions cautiously as big swings can’t be ruled out.Traders should take long positions light with proper stop losses.

When the broader Share Bazar is in a sell-off spree, ace investor Radhakrishan Damani took over a percentage stake in Prozone Intu properties today.This has lead to 20% upper circuit of the stock.Rakesh Jhunjhunwala has also a large stake in this company.Those of you who are big fans of the big bull of dalal street can take positions in this stock.

 

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Share Bazar blues: Nifty breaks 8550
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Share Bazar blues: Nifty breaks 8550
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Nifty has broken its crucial support of 8550. From the opening of the market, it was clear that Nifty was in pressure.Though it opened in green but it failed to sustain the opening level.
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WayToInvesting
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