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The market did open flat to positive led by global cues and It was a fantastic closing for the market which closed above its major hurdle level of 5110 after a long time.Market has already closed above its triangle resistance zone as shown in the chart which was placed near 5020,Nifty has its immediate hurdles now at 5160 and I mentioned clearly that there is no problem as long as we are holding above 4920 and we are continuously above this hurdle points in every fall that came in last few days.Nifty will whos 5160-5170 in this week and from this level one can hope few selling or profit booking as overall market will be bullish until unless any major concern comes in news and nifty above 5160 we will see 18 months high again which is near 5300.Immediate supports are placed near 5100 and then 5065.
Resistance : 5145 / 5180
Support : 5075 / 5045 / 5020
Resistance : 17340 / 17425
Support : 17080 / 16925
Resistance : 5135 / 5160 / 5190
Support : 5090 / 5065 / 5035
MKT COMMENTS
NIFTY FUT OI flat with 35% decreasing volumes indicating not only short covering plus forming of long positions too.
We expect NIFTY FUT to trade positive with volatility.
Buy NIFTY Above 5115,Sl Below 5095,Tgt 5145/5170/5195
Sell NIFTY Below 5095,Sl Above 5115,Tgt 5065/5040/5015
BUY
ICICIBNK Abv 935,Sl 920,Tgt 955/65/75+
SBIN (2272),Sl Below 2245,Tgt 2305/15
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