26 April 2018


"BUY RELIANCE 940 PUT @ 15 TGT 19/26"

"BUY DCB BANK ABOVE 196 TGT 198.40/201.50 SL 194.20"
After taking a day’s breather, bulls were back to winning ways on Thursday, as better results from banks and improving sentiment in IT stocks lifted the market mood. . Covering up of pending short positions by speculators on expiry of the April derivatives contracts and encouraging earnings by Yes Bank added to the momentum. Market ended the day on a bullish note, with the Sensex was up 200 points, while the Nifty was above 10,600-mark. The Sensex took off on a positive note at 34532 and advanced to the day’s high of 34747 before ending at 34713, up 212 points. This is its highest closing since 5 February, when it had finished at 34757. The Nifty ended at 10619, up 49 points, after shuttling between 10621 and 10556.
On the upside, the Nifty has significant resistances at 10650 and 10675 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 10700 and 10750 in the same period. Therefore, traders with a short-term perspective should desist from trading in the index futures contract as long as it trades in the sideways band between 10600 and 10550.
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Supports: 10600 and 10550
Resistances: 10675 and 10725

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