HAPPY INDEPENDENCE DAY
The market staged a sharp recovery on Wednesday after posting the worst
day of August in the previous session after Washington delayed tariffs on some
Chinese imports, bringing some relief to global markets rattled by a bruising
trade conflict. The Sensex surged as much as 515 points and the Nifty briefly
surpassed 11050 led by gains in metal, energy and banking shares. Hopes of a
stimulus package from the government to revive the economy also boosted the
investor sentiment, according to analysts. The Sensex ended 353 points higher
at 37312 and Nifty climbed 104 points to close at 11029.
On Friday another gap up
opening could well be likely! We are likely to see further upward movement in
the Friday’s session. However, the range between 11035 and 11078 would emerge
as a strong supply zone, once if these levels will cross 11100 will be the next
target for bulls. At the other side if down trend will take place then 10900
will act as highest supporting level for Nifty.
More about intraday tips on Google +
Resistance: 11100, 11150
Support: 11000, 10900
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