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The market opened flat to positive and taken a good support from the level of 4833 as written by me and it was complete bull dominant market that closed almost at day high.Market breadth was positive with advances at 907 against declines of 357.Market is not breaching its major support levels of 4830 and then 4770 significantly and hence it was expected that we may see a bounce back till 4925 that is already done today and closed above it too.We may be continuous in the upside as long as we are above 4830 on close to close basis and now if we do hold todays closing then we might see the next levels of 5018-5035 in the higher side and a sell off due to profit booking can not be ruled out near that levels.
Support : 4860 / 4805
Resistance : 4975 / 5020
Support : 16285 / 16055
Resistance : 16630 / 16775
Support : 4865 / 4790
Resistance : 4980 / 5030
NIFTY FUT OI down 7.11% with flat volumes indicating short covering.
We expect NIFTY FUT to trade volatile.
Buy NIFTY Above 4920,Sl Below 4900,Tgt 4965/4995/5025
Sell NIFTY Below 4880,Sl Above 4900,Tgt 4835/4805/4875
SBIN (1999),Sl Blw 1980,Tgt 2010/2020
BANKINDIA Abv 360,Sl 355,Tgt 365/70/75
THINKSOFT Abv 485,Sl 475,Tgt 495/505/515
BHARATFORGE Abv 270,Sl 265,Tgt 275/80/85
BHARTI Blw 310,Sl 315,Tgt 305/300/295
NALCO Blw 395,Sl 400,Tgt 390/85/80

1 comment:
Nice Blog Sir..
Regards- Nifty Tips
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