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Again a new all time high was made by nifty today. Nifty hit their new all-time peaks of 8741 on sustained funds inflows amid per-budget optimism among participants. The Nifty touched 8741 intra-day, breaking the earlier record of 8707 reached in yesterday’s trade. Index ended above the 8700 level for the first time by surging 33 points, at new peak of 8729, surpassing its previous closing high of 8695 hit yesterday. Nifty opened at 8719 made a low of 8689, total 52 points was moved by nifty throughout the day.
The index will continue to remain strongly bullish by tomorrow also Tomorrow on Thursday another gap up opening could well be likely! We are likely to see further upward movement in the tomorrow’s session. However, the range between 8780 and 8795 would emerge as a strong supply zone, once if these levels will cross 8800 will be the next target for bulls. At the other side if down trend will take place then 8660 will act as highest supporting level for nifty.
Again a new all time high was made by nifty today. Nifty hit their new all-time peaks of 8741 on sustained funds inflows amid per-budget optimism among participants. The Nifty touched 8741 intra-day, breaking the earlier record of 8707 reached in yesterday’s trade. Index ended above the 8700 level for the first time by surging 33 points, at new peak of 8729, surpassing its previous closing high of 8695 hit yesterday. Nifty opened at 8719 made a low of 8689, total 52 points was moved by nifty throughout the day.
The index will continue to remain strongly bullish by tomorrow also Tomorrow on Thursday another gap up opening could well be likely! We are likely to see further upward movement in the tomorrow’s session. However, the range between 8780 and 8795 would emerge as a strong supply zone, once if these levels will cross 8800 will be the next target for bulls. At the other side if down trend will take place then 8660 will act as highest supporting level for nifty.
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RESISTANCE: 8760, 8790, 8820
SUPPORT: 8730, 8700, 8670
BUY RANBAXY ABOVE 681. SL 875 TGT 685-690 + bp BP AT 691
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