18 January 2018

IDFC RELCAPITAL & YESBANK CALL ROCKSSSSS


Bulls continued their record- setting spree on Thursday with Sensex rising over 178 points to hit new closing high of 35260 and Nifty ending above 10800 for the first time, driven by a rally in banking counters. However, heavy selling in Reliance, Tata Steel, Adani Ports and SBI in the afternoon session checked the gains. The Sensex after a gap-up opening at 35366, advanced further to life-time high of 35507, surpassing its previous intra-day high of 35118 before ending at all-time closing high of 35260, showing a gain of 178 points. It also broke previous record closing high of 35081 reached yesterday. The Nifty future also gained 22 points, to hit all-time closing high of 10810 after hitting historic high of 10873, Nifty future opened at 10865 and made a low of 10774 near 100 points nifty future moved in intraday.
Markets are in a longer term bull trend, they made yet another intraday high for the year. We continue to hold an upbeat outlook and would stay long for a medium term target of 10900.Traders with a short-term view can initiate fresh short positions on a fall below 10800 levels with a stop-loss at 10850 levels. The contract can decline to 10775 and then to 10750 levels. Next key support is at 10700. On the hand, a strong rally beyond 10900 is needed to reinforce the bullish momentum once again and take the contract higher to 10925. Subsequent resistances are at 10950 and 11000 levels.
More about on Google +
Supports: 10900 and 10950
Resistances: 10775 and 10700

No comments:

Post a Comment