Market ended on bullish
note with Nifty closing near to 9200 level supported by the deal between
Reliance Industries and Facebook Inc.The deal between Facebook and Reliance is
a positive for Reliance Industries coming under the current trying times. The two
can combine their unique strengths using their network of users, share their
data, develop apps for social, digital payments, gaming, shopping, flight
and hotel bookings, etc. The combination of whatsapp expertise and user base, R
Jio’s vast subscriber base and Facebook’s deeply entrenched user base and
technology is theoretically a win-win for all. With European markets expecting
an ease in lockdown measures, Indian markets will also be looking forward to
news regarding the peaking of infections, so that the economy may be opened for
business as soon as possible.
Nifty formed a bullish
candle on the daily chart. The index now has strong resistance near the 9250-9350
levels, and if it manages to surpass and sustain above this zone, then we may
see some change in momentum from negative to neutral. Below 8900, the index may
once again see pressure towards immediate support at 8800 -8700.
More about intraday tips on Google +
Resistance: 9250, 9350
Support: 8900, 8800
No comments:
Post a Comment