The markets witnessed huge sell off throughout the day and ended in red for the fifth consecutive day. All the major sectoral indices ended in red, Reality and Auto counters being the worst hit. The Nifty closed at 5,417 down 88 points after making an intra-day high of 5,566 and the Sensex was at 18,022 down 305 points after making an intra-day high of 18,452. The Mid cap and Small cap indices both were down by 1.86% and 1.62% respectively. The breadth of the market was negative and the total turnover recorded at Rs 1,41,276Cr. Nifty Feb fut ended with 6 points premium.
FOR TODAY: The trading range probably between 5410-5545. Nifty may open a gap-up around 5488-5490 and will try to move up till 5545. If and only if, Nifty crossed 5545 with volumes, then it may touch 5585 also. On the downside, at 5400, a big support is there. If breached, we may see even 5350. Till 5801 break-out on the upside, the trend is negative. The best strategy is SELL ON EVERY RISE.
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