On Monday Sensex and nifty both opened very higher due to, the
government took its first reform steps after it came to power, followed by
state election results which favoured the ruling Bharatiya Janata Party at the
Centre.
After opening higher market movement become range bound. Nifty opened at 7896. Made
a high of 7905 and low of 7856, total 49 points was moved by nifty throughout
the day. Index swung between the
gains and losses near the flat line in afternoon trade. The Nifty ended at 7,879.
It is range bound trading and will
continue for tomorrow also. if nifty trades at 7890 or below it for some
time that would be a buying opportunity. On upside nifty would find resistance
near 7920-79346.the level 7856-7833 will act as a supporting levels for nifty.
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RESISTANCE:
7900, 7935, 7970
SUPPORT:
7865, 7830, 7795
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