The Indian
equity market fluctuated between gains and losses and closed higher on
Wednesday. Market
continues to trade in a narrow range with Sensex and nifty swinging between negative and positive zone. The
Nifty started the session on a negative note, opening at 8711 levels. Following
an initial decline, the nifty recorded an intra-day low at 8689 and began to
recover. The Sensex ended with a gain of
19 points at 28372. The Sensex opened at 28345 touched an intra-day high of
28416 and low of 28259. The NSE Nifty closed with a gain of 11 points at 8727. The
Nifty opened at 8711 hitting a high of 8740 and low of 8689.
Strategy: Wait and initiate fresh long positions on a
strong rally beyond 8730 levels with a fixed stop-loss.
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Supports: 8680 and 8650
Resistances: 8750 and 8800
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