WHATSAPP ON 9039542248 TO GET LIVE FUTURE/OPTION CALLS
"BUY TATASTEEL FUTURE ABOVE 590 TGT 594/599 SL 584""SELL IDEA FUTURE BELOW 50.50 TGT 49.80/49 SL 51.45"
Bulls continued to rule on dalal street. The
Sensex and Nifty scaled fresh peaks in early trade on Wednesday 28 aug 2018 & took nifty above
11750 mark. sensex closes shy of 38900 level, Nifty ends above 11750 for first time.
Majority of the macro factors are in favor, the results that came out this
quarter were in line with expectations. The likes of IT and Pharma are doing
well now, thanks to the dollar. Asian shares advanced today amid hopes global
tariff tensions were abating as the US and Mexico made a deal to overhaul the
North American Free Trade Agreement (NAFTA). Most of the European markets were
higher today. Investors expect Canada too would agree to the new terms
to preserve a three-nation pact, ultimately dispelling the economic uncertainty
caused by US President Donald Trump’s repeated threats to ditch the 1994 NAFTA
accord.
A large bullish candle on the daily chart
is signalling confidence and the index may do well in the rest of the expiry week. Investors
will keep an eye on US economic data with consumer confidence figures due later
in the day and the latest estimate for second-quarter gross domestic product
expected on Wednesday. We reiterate our bullish view on markets and suggest
keeping “buy on dips” approach in Nifty future, till it holds above 11700 mark. Nifty
future has already surged yet to a new high now with daily trends also
turning positive. The support for the day is seen at 11700/11635 while
resistance is seen at 11800/11850.
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Resistance: 11780, 11815, 11845
Support: 11700, 11635, 11600
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