NIFTY TODAY
Wednesday
trading session has started on bullish note tracking positive cues from global
markets on rising hopes that the US and China would strike a deal to end their
trade tiff. . Market settled with small gains after witnessing volatility
in intraday trade. The Nifty gained 53 points, to settle 10855 after shuttling
between 10870 and 10749. Investors will closely watch the key corporate
earnings due this week for domestic cues. TCS and Infosys will report their
financial results for the October-December period on Thursday and Friday
respectively.
NIFTY TOMORROW
The index
looks quite bullish! In Thursday’s session so long as the 10750-level is
maintained, there is no problem for the bulls at all. It could head even higher
even if there were to be an intraday dip that does not breach 10750 on a
sustained basis. However, crossing the level of 10935 would be quite important
for the index since only when it stays above this level then we can expect it
to cross 10970 or higher. On the downside, if it were to fall below 10750 on a
sustained campaign expect 10735 – 10700 support area getting tested. However,
only if the level of 10700 is taken out on any major profit taking the bulls
would lose their advantage.
DAILY RESISTANCE FOR NIFTY: 10935, 10970, 11000
PIVOT POINT: 10800
PIVOT POINT: 10800
DAILY SUPPORT FOR NIFTY : 10750,10700,10650
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