The markets
started the month on a lackluster note, despite easing of concerns about the central bank's autonomy and strong
global cues. The Nifty opened positive and consolidated for most part of
Thursday’s session. The markets swung between gains and losses
amid cautious trade as losses in IT stocks offset gains in banking, metal
and infrastructure shares. At the day's highest point, the Sensex traded with a
gain of 237 points to cross the 34650 mark but gave up most of those gains
by afternoon. The Nifty climbed 55 points to touch an intraday high of 10441.
At the close of market hours, the Sensex closed down 10 points at 34431, while
the Nifty ended lower by 6 points at 10380.
Nifty formed a small-bodied candle on the daily scale and has been making higher highs from last four sessions, which indicates buying interest at lower levels. Now, it has to hold above 10350 to extend its upward move towards the 10475 -10550 zone and then 10600 while on the downside, multiple supports are seen at 10300 and then 10250 levels.
More about intraday tips on Google +
Nifty formed a small-bodied candle on the daily scale and has been making higher highs from last four sessions, which indicates buying interest at lower levels. Now, it has to hold above 10350 to extend its upward move towards the 10475 -10550 zone and then 10600 while on the downside, multiple supports are seen at 10300 and then 10250 levels.
More about intraday tips on Google +
Resistance: 10500,
10600
Support: 10300,
10250
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