Bulls run continued on Tuesday..!!!
Nifty hit almost 4 months high due to healthy buying in FMCG, pharma, IT and
bank stocks after a historic meet between the US President Donald Trump and
North Korean leader Kim Jong Un. The meet, aimed at denuclearization of
the Korean peninsula, was hailed as better-than-expected by market
participants. The development gave a boost to major Asian stock markets,
including India. However, the profits were restricted, as investor’s
awaited IIP data for April and CPI inflation for May for further cues. The Sensex surged 209 points, to end the day at 35693. The Nifty future climbed 61 points finishing Tuesday's session at 10847. It
has opened at 10797 made a high of 10849 and low of 10780 total 69 points nifty
future has moved in intraday.
Tomorrow on Wednesday
another gap up opening could well be likely! We are likely to see further
upward movement in the tomorrow’s session. However, the range between 10875 and
10900 would emerge as a strong supply zone, once if these levels will cross 11000
will be the next target for bulls. At the other side if down trend will take
place then 10750 will act as highest supporting level for Nifty.
More about intraday tips on Google +
RESISTANCE:
10875, 10900, 10950
SUPPORT: 10775, 10750, 10725
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