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Market on a
roll!!!! Thanks to a spurt in the Nifty Bank, the Nifty has managed to
surpass its April 5 high of 9273. The banking index, too, has risen to a record
high since April 18 this year. The Sensex climbed over 150 points in early
trade on Tuesday. Nifty spot hits 9300 for first time ever; Bank Nifty at
record high crosses 22000. M&M, Airtel rally 3% each. The Sensex
surged 287 points to 29943 and the Nifty gained 88.65 points at 9306,
backed by banking & financials, FMCG and Reliance Industries.
Bias is still
positive but day after tomorrow is F&O expiry of April series, traders
should maintain cautious approach especially in index trades. For tomorrow
nifty now tests key resistance at 9330. A strong rally beyond this level and
the next key resistance at 9355 will strengthen the bullish momentum. In that
case, the contract can rally to the 9375 and 9400 band. In technical terms, all
trends (short/ medium-term and long-term) seem strongly bullish despite the
probability of a further short-term correction on profit-booking. The key
supports are at 9255 and 9200 levels.
More about intraday tips on
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TO GET 2 DAYS FREE TRIAL FILL UP THE FORM GIVEN
HERE>>>>
Market on a roll!!!! Thanks to a spurt in the Nifty Bank, the Nifty has managed to surpass its April 5 high of 9273. The banking index, too, has risen to a record high since April 18 this year. The Sensex climbed over 150 points in early trade on Tuesday. Nifty spot hits 9300 for first time ever; Bank Nifty at record high crosses 22000. M&M, Airtel rally 3% each. The Sensex surged 287 points to 29943 and the Nifty gained 88.65 points at 9306, backed by banking & financials, FMCG and Reliance Industries.
Market on a roll!!!! Thanks to a spurt in the Nifty Bank, the Nifty has managed to surpass its April 5 high of 9273. The banking index, too, has risen to a record high since April 18 this year. The Sensex climbed over 150 points in early trade on Tuesday. Nifty spot hits 9300 for first time ever; Bank Nifty at record high crosses 22000. M&M, Airtel rally 3% each. The Sensex surged 287 points to 29943 and the Nifty gained 88.65 points at 9306, backed by banking & financials, FMCG and Reliance Industries.
Bias is still
positive but day after tomorrow is F&O expiry of April series, traders
should maintain cautious approach especially in index trades. For tomorrow
nifty now tests key resistance at 9330. A strong rally beyond this level and
the next key resistance at 9355 will strengthen the bullish momentum. In that
case, the contract can rally to the 9375 and 9400 band. In technical terms, all
trends (short/ medium-term and long-term) seem strongly bullish despite the
probability of a further short-term correction on profit-booking. The key
supports are at 9255 and 9200 levels.
More about intraday tips on
Google +
Supports: 9255 and 9200
Resistances: 9355 and 9400
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