After moving in a narrow range for most part of the trading
session, the Sensex picked up momentum in the last one hour of trade and
rallied as much as 146 points to hit its fresh record high of 26,292 in trade
on Thursday. The Sensex finally closed 137
points higher at 26,271 It hit a low of 26,077 and a lifetime high of 26,292 in
trade today. The Sensex has already
rallied over 24 % so far in the year 2014 and has become the top performing
index in the world on a year-to-date basis. Nifty future also managed to hit
fresh lifetime high of 7,835. Nifty Future started at 7788 made a high
of 7839 and low of 7762 and closed at 7832, total 77 points was moved by nifty
future.
For tomorrow some strong movement will be expected due to traders roll
over position of (f & o) July
series, which will expired on 31 July 2014.Tomorrow nifty will move in the
range of 7786-7876.If this level will crossed by nifty then there will be
higher possibility for 7900 level. At the other side if any down fall will be
there in the market, then 7750-7730 will act as very good supporting levels for
nifty future. The momentum is fairly strong in
the markets and small corrections, which may happen, should be used to enter
the markets or build positions.
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RESISTANCE: 7830, 7860, 7890
SUPPORT: 7800, 7770, 7740
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