NIFTY TODAY
Bulls
are back in action..!!! After opening on a negative bias Nifty managed positive
streak and achieved 10800 again. At the close of market hours, the Sensex was
up 130 at 35980, and the Nifty was 30 points up at 10802. Market
sentiments were driven by strong buying in corporate banks and pharma stocks. Investors
have turned cautious ahead of corporate earnings, with TCS and Infosys
reporting December quarter results in the first round. Market is expected to
continue its volatile trade. Apart from TCS (result on 10 Jan 2019), companies like Infosys (result on 11 Jan 2019), Bajaj Corp
and IndusInd Bank are expected to announce their quarterly results tomorrow 9 Jan 2019.
NIFTY TOMORROW
On Wednesday,
it is likely that Nifty will extend its gains at least in the initial hours of
trade. We may see it attempt to inch higher towards its 100-DMA at 10,935.
Market breadth remains a cause of concern. This would require continued caution
at each higher level that the market achieves. On Wednesday, Nifty
is likely to see the 10935 and 10970 levels act as resistance while supports
will come in at 10750 and 10700.
DAILY
RESISTANCE FOR NIFTY: 10935, 10970, 11000
PIVOT POINT:10800
PIVOT POINT:10800
DAILY SUPPORT FOR NIFTY : 10750,10700,10600
No comments:
Post a Comment