Bulls are back with a bang. BJP looked
set to retain power in again. Going by
exit poll results Narendra Modi-led NDA government is all likely to come back
to power with a resounding victory in general elections 2019. Indian equity
benchmarks clocked their best single-day gains in nearly six years to close at
record highs after the exit polls predict that the NDA will return to power.
The Sensex closed 1422 points higher at 39352 and the Nifty ended at 11828. It has been
nearly five years since Modi took oath as Prime Minister on May 26, 2014.
During this period the Nifty rallied over 5%. However, the period also
remained highly volatile for Indian market because of reformist measures such
as demonetization, implementation of goods and services tax, Insolvency and
Bankruptcy Code and Real Estate Regulation and Development Act.
The nifty is all set to head towards its lifetime high of 12000 and take an aim at 12200 in this election result session rally. We continue with our optimistic stance and sooner or later, expect the index to head towards its record high. For the coming session, 11900 followed by 11950 has become a sturdy wall now and on the flipside we do not expect the Nifty to breach and sustain below the sacrosanct level of 11700.
The nifty is all set to head towards its lifetime high of 12000 and take an aim at 12200 in this election result session rally. We continue with our optimistic stance and sooner or later, expect the index to head towards its record high. For the coming session, 11900 followed by 11950 has become a sturdy wall now and on the flipside we do not expect the Nifty to breach and sustain below the sacrosanct level of 11700.
More about intraday tips on Google +
Resistance: 11900, 11950, 12000
Support: 11800, 11750, 11700
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