FOR NEW CALLS FOR TOMORROW FILL UP THE FORM GIVEN HERE>>>>
The stock market breadth was
tilted in favors of the bulls. Both the key indices gained more than half a per
cent each as healthy buying was witnessed in banking, automobile, and oil and
gas stocks. The Nifty closed above the crucial psychological barrier
of 8850-mark on the back of buying in banking, auto and utilities shares.
The Sensex ended with a gain of 266 points at 28773. The Sensex opened at
28767, touched an intra-day high of 28872 and low of 28693. The NSE
Nifty closed with a gain of 90 points at 8867. The NSE Nifty opened at 8873
hitting a high of 8893 and low of 8837.
We reiterate our view to hold positive yet cautious approach till 8750 is intact in Nifty. The Traders with a short-term perspective should tread with caution and consider initiating fresh long positions on a rally beyond 8900 levels. The contract can then extend its rally and test resistances at 8950 and 9000 levels in the near term. On the downside, a decisive fall below key support at 8800 is needed to alter the bullish momentum and drag the contract down to 8750 and then to 8700 levels.
We reiterate our view to hold positive yet cautious approach till 8750 is intact in Nifty. The Traders with a short-term perspective should tread with caution and consider initiating fresh long positions on a rally beyond 8900 levels. The contract can then extend its rally and test resistances at 8950 and 9000 levels in the near term. On the downside, a decisive fall below key support at 8800 is needed to alter the bullish momentum and drag the contract down to 8750 and then to 8700 levels.
Supports: 8750 and 8700
Resistances: 8900 and 8950
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