The week has
started on a choppy note. The Sensex jumped as much as 240 points to touch
36467 while the Nifty climbed 56 points to hit 10986 in late afternoon
trade. The indices swung between gains and losses during Monday’s session. The
Sensex traded in a range of 36467 -35960, while the Nifty moved
between 10963 and 10821. That meant a swing of 506 points for
the sensex & 141 points for the
Nifty. Caution prevailed after the Reserve Bank of India announced
measures to curb liquidity concerns. Finally sensex closed the day at 36526
while nifty ended at 11008.
Going into trade on Tuesday, though we expect a quiet start, we expect the follow-through rally to continue with the levels of 100-DMA acting as important support. The levels of 11225 and 11250 will act as immediate resistance levels for the market. Supports come in at 10950 and 10850 zones.
Going into trade on Tuesday, though we expect a quiet start, we expect the follow-through rally to continue with the levels of 100-DMA acting as important support. The levels of 11225 and 11250 will act as immediate resistance levels for the market. Supports come in at 10950 and 10850 zones.
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Resistance: 11200, 11250
Support: 10950,
10850
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