4 May 2017


"BUY RELIANCE 1400 CALL @ 18 TGT 24/32"

SELL BANKNIFTY FUTURE BELOW 22755 TGT 22705/22630 SL 22800 "

Market closed on a higher note today, with the Nifty and Bank Nifty at record closing high, all credit goes to ICICI Bank that rallied 9 percent in the opening session only.  Benchmark Sensex closed above the 30,000-mark today while the broader Nifty scaled a lifetime high on positive earnings and reform initiatives. The Sensex stayed in the positive terrain through the session and touched a high of 30169 before settling 231 points, higher at 30126, its highest level since April 26 when it closed at a record high of 30133. The Nifty spurted 47 points, to end at 9359, a fresh closing high. Its previous closing peak of 9351 was recorded on April 26.
The market looks ahead for fresh cues. Nifty break above 9400 then it will increase the strong bullish pattern breakout, which will take the indices up towards 9500/9600. A strong break (close) below 9200 will increase the downside pressure and drag it to 9150, 9100.
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Supports: 9200 and 9150
Resistances: 9400 and 9450

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