United Spirits with stop loss at Rs 605 with targets at Rs 623 and Rs 627 and HDFC Bank with stop loss below Rs 2197 for targets of Rs 2272 and Rs 2286
The volatile market ended lower for the second consecutive session amid the expiry of futures and options contracts on August 29, which was dragged by banking and financial services and auto stocks.
The BSE Sensex was down 382.91 points at 37,068.93, while the Nifty fell below its psychological 11,000 levels down 97.80 points at 10,948.30 and formed a bearish candle on daily charts.
Volatility was remained high today, especially in F&O counters, due to unwinding and rollover of the positions, while the broader indices remained under pressure with the Nifty Midcap index losing 0.4 percent and Smallcap index shedding 0.9 percent.
The market closed in the red for the third consecutive series, with the Nifty losing 2.7 percent in August series amid consistent FII outflows, slowdown worries and fears of a global recession.
According to the pivot charts, the key support level is placed at 10,906.77, followed by 10,865.23. If the index starts moving upward, key resistance levels to watch out for are 11,005.47 and 11,062.63.
The Nifty Bank index closed at 27,305.20, down 1.8 percent on August 29. The important pivot level, which will act as crucial support for the index, is placed at 27,123.7, followed by 26,942.2. On the upside, key resistance levels are placed at 27,602.9 and 27,900.6.
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