"NIFTY 11900 CALL 4 JUL PUT ACHIEVED 1ST TGT 55 CONTINUE TO HOLD FOR FINAL TGT"BUDGET IS AHEAD... TO TRADE IN BUDGET SESSION CALLS WHATSAPP ON 9039542248
Bulls are back on the
driver seat in Tuesday's session Sensex advances 130 pts, Nifty successfully closed above 11900
mark. Market sentiments were boosted on optimism ahead of Budget 2019 scheduled
to be presented later this week. The
Sensex gained 129 points to close at 39816 and the Nifty climbed 44 points to
11910 but the market breadth was balanced.
We expect the FY20
Budget to be expansionary, boosting both consumption and investment through tax
cuts and additional expenditure. We expect Budget will have positive impact on
equity market, especially FMCG, small durable's, two-wheeler's, real estate,
infrastructure, roads and railway-linked companies. The expected Budget-neutral
market capitalization would be positive for PSU banks. The index formed
a bullish candle on the daily scale and needs to hold above 11900 to extend
gains towards 11935, and then 11975-12000 zone. Overall setup and momentum
is positive and a hold of recent zones could extend rally, while support exists
at 11875 and then 11850 levels. It has been making higher top and higher
bottom formation and supports are gradually shifting higher with medium term
support at 11800.
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Resistance: 11935, 12000
Support: 11875, 11550
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