27 April 2016


"BUY IDFC FUTURE ABOVE 46.60 TGT 46.90/47.20 SL 46.20"

"BUY NIFTY 8000 PUT @ 30 TGT 69/88"
Accelerating April!!!! Market end at 2016 closing highs. After enjoying a fantastic rally and taking over the sensex 26000 and nifty 7950 level today, the market ended at highest levels for the calendar year. The barometer index alternately moved above and below that level in intraday trade so far. A rally took the Sensex past the psychologically important 26000 mark yesterday, 26 April 2016. The sensex was currently trading above the psychologically important 26000 mark. Domestic equity BSE Sensex and NSE Nifty swung between gains and losses on Wednesday as investors stayed cautious ahead of US FOMC meet outcome due today and F&O expiry tomorrow.
Nifty was seen trading in a very narrow channel throughout the day’s session due to absence of fresh cues from both international and domestic markets.  Today, Sensex closed 56 points up at 26064, while Nifty settled 17 points up at 7979. The BSE Sensex opened at 25956 touched an intra-day high of 26093 and low of 25885.The NSE Nifty opened at 7942 hitting a high of 7991 and low of 7941.
Just some points short of the coveted 8000 level, it was so close yet so far—at least for tomorrow the Nifty level of 9000 remained elusive. In tomorrow’s session, we need to watch out for the support range between 7960 and 7920 unless this potential demand is broken and taken out mostly the attempts to clear the 8000  mark would the Nifty needs to wait. The index needs to take out today’s high of 7991 and get past 7999 for a minimum for me to remain bullish.
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RESISTANCE: 8000, 8050, 8100
SUPPORT:  7950, 7900, 7850

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