8 November 2016


The domestic market extended their gains for a second straight session as the last of the opinion polls showed Hillary Clinton ahead of Donald Trump as Americans prepare to cast their ballots in the U.S. presidential election. The BSE and NSE opened in green on Tuesday, tracking strength in the global markets as Americans go to vote to decide their next President. Finally, the BSE Sensex ended with a gain of 132 points at 27,591.
The BSE Sensex opened at 27,537 touched an intra-day high of 27647 and low of 27407.
The NSE Nifty closed with a gain of 47 points at 8543. The NSE Nifty opened at 8540 hitting a high of 8559 and low of 8480.
Tomorrow if the bulls manage to hold the Nifty above 8550 zone then they would try to push it up to level of 8600; however, the intraday volatility that we saw on today indicated the nascent upswing has already run into rough weather. Thus, taking out the zone between 8555 and 8585 would be very crucial if it were to turn into a sustainable uptrend. In case, the index falls below 8470 on heavy selling it might retest the strong support zone from 8450 and 8400.
Supports: 8470 and 8400
Resistances: 8555 and 8600

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