22 June 2015


IFCI Call Given June 17, 2015 Achieved 1st Tgt , Continue to hold for 2nd tgt
"Buy Nifty 8300 Call @ 78 Tgt 112/145 Sl 25"
Today also the bulls are on the driver seat only. Putting up a good show for yet another session, local market ended with gains of around a percent which took both Sensex and Nifty above psychologically crucial 27700 and 8350 levels respectively. Buying was visible across the sectors in trades today.  The Sensex surged 414 points to close at 27730 and the Nifty advanced 128 points to shut shop at 8353. It touched a high of 8369 and a low of 8257 in trade today. For the most part of the day, the Indian bourses traded on a strong note and the Nifty crossed its 200-day simple moving average on the back of better than expected monsoon rains so far, reigniting hopes that the inflation will remain under control and will give head room to the Reserve Bank of India to cut interest rates.
So long as the Nifty does not fall and stay below the 8195-mark, the bulls would continue to be on the driver’s seat. After the breakout recorded in benchmark indices last week, Sensex is heading towards 28000, while Nifty may see levels of 8450-8500.  On the way up, it needs to clear a strong supply zone between 8380 and 8410. Once this range is taken out the index would head for the next important target of 8450 – 8500. In case, there were to be profit taking led selling, below the 8295-level, the next range to watch out for is located between 8250 and 8210.
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RESISTANCE: 8380, 8420, 8460
SUPPORT:  8340, 8300, 8260


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