A relief
day for the market participant nifty settled the day above 7800 mark. A volatile
trading session ended on marginally positive note, but failed to retain the
sharp recovery of morning session despite Finance Minister Nirmala Sitharaman
announced several relief measures for the industry and ended in the green.
The Sensex ended 692 points higher at 26674, while Nifty was up 190 points at 7801. We expect market would remain volatile in the near term. The index formed a bullish candle on the daily scale and needs to hold above 7800 to extend gains towards 7900, and then 8000 -8500 zone. Overall setup and momentum is positive and a hold of recent zones could extend rally, while support exists at 7700 and then 7600 levels.
The Sensex ended 692 points higher at 26674, while Nifty was up 190 points at 7801. We expect market would remain volatile in the near term. The index formed a bullish candle on the daily scale and needs to hold above 7800 to extend gains towards 7900, and then 8000 -8500 zone. Overall setup and momentum is positive and a hold of recent zones could extend rally, while support exists at 7700 and then 7600 levels.
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Resistance: 7900, 8000
Support: 7700, 7600
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