Market Sensex surged by 146 points today to close at
28301, snapping a two-session losing run as IT stocks led the recovery after
TCS said its board will consider share buyback next week. The Nifty rose 53 points to 8778. The Sensex,
after opening on a strong note at 28,223.85, succumbed to profit-booking and
slipped into the negative terrain to hit the day's low of 28146 before bouncing
back to close higher by 145 points at 28301. It touched an intra-day high of 28327.
The gauge had lost 196 points in the last two days. The Nifty gained 53 points to
8778. Intra-day, it shuttled between 8783 and 8719.
On
the upside, 8820 through 8850 would be the first supply zone to watch out
for—once this range is taken out we can expect another dash at the 8870 or
higher levels. Further up, resistance is likely to be felt between 8900 and
8955. On the other hand, if it were to go down below 8700
and sustain there it is likely to get good support between 8650 and 8600.
More about intraday tips on Google +
Resistance: 8825, 8850, 8875
Support: 8700, 8675, 8650
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