YESBANK 160 JUN CALL GIVEN IN LAST POST NEAR TO HIT THE TGT CONTINUE TO HOLD FOR TOMORROW
Bulls continued to rule
on the D-street on Thursday ahead of May derivative contracts' expiry, with
Bharti Airtel Ltd and NTPC Ltd leading gains, as investors awaited appointments
for key ministries at Prime Minister Narendra Modi's swearing-in ceremony.
Market witnessed a rally over PM Modi's landslide victory in the general
elections last week. PM Modi will be sworn-in for a second term later in the
day and is expected to name his new cabinet ministers. The Nifty was up at
11917, while the Sensex was trading higher at 39722.
A stable government is
attractive and stocks are outperforming on hopes of new policies. After
today's ceremony (ministry announce
ments), we'll look at budget, tax reforms
and based on these markets are positive.
We continue with our
optimistic stance and sooner or later, expect the index to head towards its
record high. For the coming session, 11975 followed by 12000 has become a
sturdy wall now and on the flipside, we do not expect the Nifty to breach and
sustain below the sacrosanct level of 11850.
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Resistance: 11975, 12000, 12100
Support: 11900, 11850, 11800
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