Wednesday 2 September 2015

DAILY REPORT – 2nd SEPTEMBER 2015






Market Brief – Continuing the losing streak, Sensex, today, closed at 25453.56, down by 242.88 points, and -0.95 percent, whereas Nifty closed at 7717, down by 68.85 points, -0.88 percent, despite a promising start in the early trade triggered by Government’s move to do away with MAT on Foreign Portfolio Investors (FPI).

The market sentiments turned negative, despite the positive trigger of MAT, on the back of weak China data and Global market cues. Globally, the Euro markets and the US markets are also trading lower by 469 points and 2 points respectively.
The BSE Smallcap index ended positive for the day, and closed at 10749.63, up by 16.25 points, and 0.15 percent. However, the BSE Midcap index gave a negative close of 10437.07, down by 86.76 points, and -0.82 percent.

The short and the intermediate trend for the markets still remain down, whereas the long term trend is still up. The Sensex has broken the support level of 26000, and is trading between 25500 and 26000. The Sensex will slip down more if it closes below the level of 25300. Nifty has broken the support level of 7880, and is trading between the range of 7700 and 7800. The Nifty may dive down more if it gives a close below 7670.

Investors are advised to remain cautious and stay invested in the market with a long term perspective, in the blue chip, low debt and good governed stocks.



Click Here to go through our Weekly Newsletter

Contact us Here:

PRAGMATIC WEALTH MANAGEMENT PVT. LTD.
Head Office:
102, 1st Floor, Topaz Society,
Dr. Nair Road, Agripada, Mumbai Central (E), Mumbai 400011

Tel: +91-8108178683
E-mail: contact@pragmaticwealth.net

Follow us on: TwitterLinkedInFacebookPinterestGoogle+


Caution: Islamic Investments strictly prohibits intraday trading and Derivative trading. Stocks should only be sold upon procuring the delivery.

Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations and Newsletters are based on the theory of Technical & Fundamental Analysis Combined. © Pragmatic Wealth Management Pvt. Ltd.


No comments:

Post a Comment