Market closed on bullish
not but indices were confined to a narrow range for want of fresh triggers
after a tepid results season. Nifty future has closed above 9850 mark. Nifty
future has opened at 9811 made a low of 9797 then went up higher to 9874 &
finally closed at 9859. Average first-quarter corporate results and a lack of
fresh triggers will see markets remain range-bound in the near to medium term.
We expect the Nifty to see a modestly positive start on Thursday. The level 9850 level will remain critically important for the Nifty to guard. The 9890 and 9935 levels are likely to be key resistance in Thursday’s session while supports should come in at 9825 and 9800. We recommend investors to strictly avoid any major exposure until the market shows a definite directional bias. It is advised to remain extremely stock-specific and adopt a highly cautious outlook for the day.
We expect the Nifty to see a modestly positive start on Thursday. The level 9850 level will remain critically important for the Nifty to guard. The 9890 and 9935 levels are likely to be key resistance in Thursday’s session while supports should come in at 9825 and 9800. We recommend investors to strictly avoid any major exposure until the market shows a definite directional bias. It is advised to remain extremely stock-specific and adopt a highly cautious outlook for the day.
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Resistance: 9900, 9935,
9955
Support: 9830,
9800, 9775
EYE ON SUNTV ; ABOVE 200 EMA; CHECK OUT COMPLETE REPORT ON EQUITY FUTURE CALLS
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