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Destimoney Daily - 16-Nov-16	Download pdf

Markets took another blow on concerns about outflows amid surging US yields and the dollar gathering more steam. Sentiment continued to be weighed down by the government's move last week to withdraw high-value currency notes and disappointing quarterly earnings by some more blue-chip companies. Sensex ended lower by 514.19 points or 1.92 % at 26304.63 Nifty closed down 187.85 points or 2.26 % at 8108.45

Positionally, Nifty Index sold off to close below 8100 levels. The index is in extremely oversold zone and a relief rally is possible. Intraday Supports are at 8000/8080 levels & Resistance at 8240/8300 levels.

Chart of the day	BUY above Rs276:ONGC	CMP:275.60	Target:290	Stop Loss:269
Technical call of the day	BUY above Rs317:Canara Bank	CMP:316.05	Target:335	Stop Loss:308