3 April 2018


It has been a difficult day for both bears & bulls to have an upper hand.  A complete range bound trading session has closed on positive note. The Sensex ended at 33371, up 115 points while the broader Nifty50 index settled at 10245, up 33 points Led by gains in banking, auto, PSU and power stocks despite weak global cues. Banking shares gained after the Reserve Bank allowed lenders to spread provisions for bond losses in the third and fourth quarters of the previous fiscal over the next four quarters. An appreciating rupee against the dollar also supported the upmove. Investors will now look forward to Reserve Bank of India's (RBI) first bi-monthly policy decision of FY19 to be held on Thursday.
Going into Wednesday’s trade, it is very much likely that we may see a positive start. Nifty is likely to trade in the 10,275-10,310 zone on Wednesday, providing resistance even if the strength is more-than-expected. In routine course, the 10,350-10,380 zone is likely to act as likely resistance. Support remains in the 10200 -10100 zone. 
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Resistance: 10300, 10350, 10400
Support: 10200, 10150, 10100

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