The market tumbled on Tuesday as traders booked profits after six-day rising streak. Weakness in IT major Infosys put pressure on bourses. Selling in Bajaj Finance and Bharti Airtel also weighed on key indices. Private banks, however, supported the indices at lower levels. The Nifty crossed 11,700 mark in morning trade, but steep selling pressure dragged the index below 11,600 level in mid-afternoon trade. In the past six trading sessions, the Sensex surged 3.74% while the Nifty advanced 3.8%.
Global Markets
AMS beat expectations with a 41% jump in third-quarter revenue on and forecast further strong demand for its optical sensors from Smartphone makers. European shares fell as investors sifted through a mixed bag of corporate earnings and eyed latest developments on U.S.-China trade talks and Britain’s progress towards some form of orderly departure from the European Union. European STOXX 600 index, was down 0.3%.
Nifty Chart
Nifty Index closed on weak note at 11573.65 22.10.2019. Nifty has resistance at 11715. We recommend sell on rise near 11600-11620. Nifty Support : 11550-11475, Resistance : 11720-11750.
