Daily market commentary - 25th February 2020 - BONANZA PORTFOLIO LTD

By Mr Vishal Wagh, Research Head

"Nifty opened with a gap up and bulls managed to hold it in green in the first half but in the last one hour, it won't able to defend and lastly given up. Nifty closed in red as market breadth was in favour of bears and supply pressure continued in the last hour of trade on the second day of expiry week. IT and Reality have shown strength whereas major supply has seen in pharma and auto. Nifty heavyweights like Reliance and HCL TECH remained major draggers whereas, TCS, Bharti Airtel, Sbi & Tatasteel helped it to hold in the game. Going forward, 11908-11920 range will play resistance and on the lower side 11614 is major support. The market is in a bear grip so it is advisable to implement sell on rising strategy."

Source : Equity Bulls

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