11 April 2018

NIFTY BANKNIFTY VIEW & TIPS FOR 12 APRIL 2018

"HEXAWARE FUTURE ALMOST ACHIEVED FINAL TGT MADE A HIGH OF 408.50"
Market closed higher for fifth consecutive session on Wednesday. The Sensex was up 60 points at 33940 and Nifty rose 15 points to 10417. Bank Nifty too closed 128 points or 0.51% lower at 25,098 level.  The Sensex resumed higher and advanced to 33981, but soon slipped on profit-taking to touch a low of 33750, before settling up 60 points, at 33940. The gauge had gained 861 points in the previous four sessions. The nifty, after moving between 10428 and 10355 on alternate bouts of selling and buying, finally concluded at 10417, up 15 points.
Investors are focusing on key macroeconomic data, including retail inflation and industrial production numbers due on Thursday and corporate results starting Friday. The bulls seems a bit tired and does not have the similar sort of strength we saw in last couple of weeks. This is quite evident as it has entered a strong resistance zone of 10450 - 10500. For the coming session, 10375 would now be seen as a key support for the Nifty. A sustainable slide below this would apply brakes on the recent relief rally.
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Resistance:  10500, 10550
Support: 10375, 10275,

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