9 April 2018


Bulls are back in action..!!! sensex & nifty closed higher on positive global cues as trade war tensions eased. The Sensex was up 161 points at 33788 and the Nifty rose 47 points to 10,379. Market edged higher on Monday as a bounce in US stock futures soothed sentiment even as US President Donald Trump kept up his twitter war with China over trade just a couple of days before Chinese President Xi Jinping gives a keynote speech. Back home, upcoming quarterly results season, along with the release of macroeconomic data points on industrial production (IIP) and inflation, are expected to determine the trajectory of key equity indices this week. Global cues such as concerns over trade protectionist measures between the US and China, combined with the direction of foreign fund flows and crude oil prices, will also impact investors' risk-taking appetite.
The market closed 3nd consecutive week in positive territory. The short-term outlook for the market remains positive till Nifty trades above 10250 levels and expecting targets in the range of 10500-10650 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 10150 levels and expecting targets in the range of 10700-10900 levels in the medium term. . For the coming session, immediate resistance would be seen at 10400-10450 and a sustainable move beyond this would extend this rally. On the flipside, 10250-10150 are likely to act as strong support levels unless this zone is violated decisively, the bulls need not worry.
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Resistance: 10400, 10450, 10500
Support: 10250, 10200, 10150

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