18 February 2016


Nifty closed on a bull note at 7182. So today on upside first resistance is at 7153-58 level.Next resistance are at 7199-04,7230-35. level On downside first support is at 7062-57 level.Next support are at 7017-12,6987-82. Market is still in bear side but long can be taken unless nifty goes below 7012 level .So today on upside intra resistance are at 7158 and 7204 level and above 7230 trend can become stronger .On downside be alert below 7057 and avoid all intraday longs below 7012 level .
The sensex ended the day at 23,649, up 1.14 per cent or 267.35 points. The broader Nifty50 closed at 7,191.level, up 1.17 per cent or 83.30 points. On Thursday, the Sensex had gained 189.90 points to 23,381, while the Nifty50 was up 60.20 points to close at 7,108. The key level to watch on the downside is 7,120-7,130. I have a positive bias and my belief is that in the short term we might not violate that. Only below that will I turn negative. The indicator setup is much better than what we had on Monday and Tuesday and we should be heading towards 7,250-7,270 levels in the next few days with some choppiness.
Resistances: 7220, 7270, 7350

Supports: 7100, 7000, 6950

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