Bulls continued to rule on The D street.
Benchmark indices ended higher on Wednesday with Nifty finished above 11050.
Despite mixed global cues, bourses opened in the green and kept their momentum
throughout the day. The Sensex was up 193 points at 36636, while Nifty was up
65 points at 11053. some consolidation at higher levels
cannot be ruled out in the near term. Domestically, macro data like IIP, CPI
& WPI inflation scheduled next week will dictate market trend in the coming
sessions. Further, the extent of geopolitical risk between India and Pakistan
will be closely monitored. Globally, the developments on US-China trade front,
progress on Brexit and movement of crude oil prices and currency would be on
market radar. Considering high volatility, traders should strictly hedge their
positions.
Now it has to hold above the 11000-11050 zone to extend its move
towards 11200 and then the psychologically important 11300 level, while on the
downside, support is seen at 10900 and then 10800 levels.
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Resistance: 11100, 11200
Support: 10900, 10800
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