No Monday blues
for bulls… it was record breaking run of the bulls in today’s session. Market
was at all time high. The Nifty managed to hit 11,500 for the first time ever,
while the Sensex comfortably traded above 38000-mark. The Sensex and Nifty future scaled their
fresh lifetime highs of 38322 and 11585, respectively. Positive global cues, a
recovery in rupee along with a rally in banks and index heavyweights helped the
market kick off the week on a very strong note.
Bulls rally will be continued in Tuesday’s session also. Supports are shifting higher gradually. As long as Nifty holds above 11500, the momentum could extend towards 11600 and then 11700. On the downside, major support exists at 11450 and then 10400 levels. We suggest maintaining positive yet cautious approach in the nifty future, considering the mixed sentiment. Traders should focus more on the money management aspects and avoid taking unnecessary risk.
Bulls rally will be continued in Tuesday’s session also. Supports are shifting higher gradually. As long as Nifty holds above 11500, the momentum could extend towards 11600 and then 11700. On the downside, major support exists at 11450 and then 10400 levels. We suggest maintaining positive yet cautious approach in the nifty future, considering the mixed sentiment. Traders should focus more on the money management aspects and avoid taking unnecessary risk.
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Resistance: 11600, 11650, 11700
Support: 11450, 11425, 11400
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