12 June 2018


Bulls run continued on Tuesday..!!! Nifty hit almost 4 months high due to healthy buying in FMCG, pharma, IT and bank stocks after a historic meet between the US President Donald Trump and North Korean leader Kim Jong Un.  The meet, aimed at denuclearization of the Korean peninsula, was hailed as better-than-expected by market participants. The development gave a boost to major Asian stock markets, including India.  However, the profits were restricted, as investor’s awaited IIP data for April and CPI inflation for May for further cues. The Sensex surged 209 points, to end the day at 35693. The Nifty future climbed 61 points finishing Tuesday's session at 10847. It has opened at 10797 made a high of 10849 and low of 10780 total 69 points nifty future has moved in intraday.

Tomorrow on Wednesday another gap up opening could well be likely! We are likely to see further upward movement in the tomorrow’s session. However, the range between 10875 and 10900 would emerge as a strong supply zone, once if these levels will cross 11000 will be the next target for bulls. At the other side if down trend will take place then 10750 will act as highest supporting level for Nifty.
More about intraday tips on Google +
RESISTANCE: 10875, 10900, 10950
SUPPORT:  10775, 10750, 10725

No comments:

Post a Comment