Bulls would wish to carry the momentum to the next trading session. However, trading might turn more volatile ahead of Today F&O expiry be Cautious on higher levels. We see good rally last trading day but there has been no FII participation so the rally is unlikely to sustain at higher levels. Sensex heavyweights should propel the market up in the next few days…analysis remains unchanged and volatility at its best.
+ Signals of market bottoming out at around 2600 on Nifty and 9000 on Sensex are becoming more clearer now. We were expecting 2620 over last two weeks and Nifty hit low of 2640 approximately and bounced back.
NIFTY (2849.5) : Closed Above 50DMA 2840
Support : 2820 / 2790 / 2750 / 2730
Resistance : 2870 / 2885 / 2920 / 2955
Support : 9190-50 / 9115 / 8975
Resistance : 9320-35 / 9415 / 9550
NIFTY FUT (2847)
Support : 2825 / 2800 / 2755
Resistance : 2875 / 2900
BANK NIFTY (4342.25)
Support : 4300 / 4245 / 4145
Resistance : 4400 / 4460
MKT COMMENTS
NIFTY FUT OI (both series) down with decreasing volumes indicating short covering.
We expect NIFTY FUT to trade volatile due to expiry.
On Thursday ,Opening is Flat to Up,
Stay Long Above 2850,Sl Below 2835,Tgt 2870-2885-2910-2935,
Sustain Below 2830,Sell with Sl Above 2845,Tgt 2800-2780-2745-2730.
Buy ABAN Above 480,Tgt 505-520,Sl 465
Buy SBIN (1112),Sloss Below 1095,Tgt 1135/1145+
Buy HEROHONDA Above 870,Tgt 880-895-915,Sl 860
Buy NTPC Above 190,Tgt 195-200-205,Sl 185
Sell MARUTI Below 520,Tgt 505-485-450,Sl 530
Sell CMC Below 290,Tgt 285-280-270,Sl 295
Buy SAIL (81.25) Fut Above 80,Tgt 83/85.5/87.7/90
RCOM (166.4) : Buy @ 159/162,Sl 157,Tgt 165/70/75
REL (556.45) : Buy @ 525/35,Sl 520,Tgt 560/65/75/90 / Position Long Hold With Sl 505
Buy HINDLEVER (259.05) Around 257/60,Tgt 265/75+,Sl 250
Buy ICICIBANK (408.05) Around 400,Tgt 420/445+,Sl 390
Buy RPL (86.1) Around 84/85,Tgt 90/95,Sl 80
Buy AUROPHARMA Jan @ 160/63,Sl 156,Tgt 165/167/169/171.6/173.3 (
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