Buy Axis bank Future above 440 Tgt 447/456 Sl 432
Sell Hindalco Future below 162.80 Tgt 161/158.40 Sl 165.70
Both Sensex and Nifty made fresh highs today, surging nearly 2 per cent
each in trade on Friday. The Sensex ended
the day at 27865, up 519 points. The Nifty shut shop at 8322, up 153 points. Nifty index rose over 150 points to make its
all-time high of 8,330. Today nifty opened at 8200 made a high of 8330
and low of 8198 and closed at 8322 total 132 points was played by nifty
throughout the day.
The index must get past both 8325 and 8355 levels and head for the next
supply zone between 8380 and 8400. Secondly, even in the event of any profit
taking it should not fall below 8250-8220 major support level. If the above
conditions are met then it shows clear strength and we can expect further
upswing.
As the Nifty is further looking
bullish on charts and fundamentals also seem to be supportive, slight
correction might be on the way. But the overall upswing is likely to occur till
Nov expiry. Our targets for the Nifty till December are 8400 & 8700 and for
the Sensex, 30000 can be the golden figure.
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RESISTANCE:
8325, 8365, 8405
SUPPORT: 8285, 8245, 8205
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