2 May 2017


"BUY ICICIBANK 270 PUT @ 5.5 TGT 7.9/9.4 SL 2.4"
"BUY DCB BANK FUTURE ABOVE 201 TGT 203.4/207.8 SL 198.5"

See- saw movement was there in the market today. Nifty was oscillating in the red and green zone in today’s trading session. However, it managed to close above the crucial level of 9300 level at 9313 level up by 9 points. The Sensex closed at 29921 higher by 2 points. In the morning, the sensex and the Nifty had slipped into the negative terrain in mid-morning trade after hovering in positive zone till morning trade as Market data on India's manufacturing sector in April disappointed investors. Later, the Sensex & nifty had pared intraday losses to regain positive terrain in afternoon trade albeit with small gains, tracking higher European indices.
In the past few sessions, markets were in the consolidation mode but going forward, the momentum remains positive. Nifty could see levels of 9355 this week, while 9255 to 9215 remain strong support on the downside. If Nifty passes 9360 level then the range may shift on the upside by 150-200 points and consolidation will happen. Each time Nifty gets closer to 9250-9260, it would be good time to buy. Similarly, on Bank Nifty 22200 should be good level to buy.
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Resistance: 9335, 9365, 9395
Support: 9255, 9235, 9215

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