25 May 2016


Markets staged a stellar rally today, on 25 May 25, 2016 the indices closing 2.5 % higher on the back of better than expected earnings and positive global cues. Markets continue to remain strong with banks displaying a spectacular rally. Global cues are definitely supporting and on top of that Skymet came out with the market commentary and raised its monsoon forecast, which is adding to the positive sentiment. Markets have opened the session on a robust note mirroring strength in the Asian equities following a strong finish on the Wall Street on upbeat new homes sales data. Revised upward its 2016 southwest monsoon forecast by Skymet uplifted the mood. Today nifty swing higher towards 7855 anticipated yesterday paused midway but is expected to mature fully today. However, as maintained yesterday along the trading strategies, the level 7855 mark is likely to is ask questions, and challenge the upside convictions. Volatility is favored to dominate as the day matures.
The Sensex ended with a gain of 576 points at 25881. Extending its gains for the second straight session on Wednesday, the sensex jumped over 500 points, while the broader Nifty settled above its key 7900-mark. The Sensex opened at 25432 made a high of 25897 & low of 25431. The Nifty closed with a gain of 186 points at 7935. The Nifty opened at 7812 made a high of 7938 and low of 7809.
For tomorrow market will remain volatile due to F & O expiry of May, 2016, strategy remains buy at support but only for intraday. Nifty intraday support for tomorrow will be 7800 and 7775 while on upper side 7945 and 7990 are strong resistance levels only for intraday.
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Supports: 7800 and 7775
Resistances: 7945 and 7990

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