Bulls took centre stage today led by Financials as Kotak Bank led from the front buoyed by MSCI review. Afternoon trade witnessed FMCG taking control ably supported by cement stocks. Broader markets also saw participation across select counters. Benchmark indices regained some of the previous session losses and ended higher with Nifty above 11,850 supported by the Bank Nifty and Pharma names. At close, the Sensex was up 376 points at 40522, and the Nifty was up 121 points at 11889.
After going below the
crucial support of 11750 in early hours of trade, the Nifty swiftly flew past
the 11,800 level and closed above it. The index needs to cross 11900-11950 in
order to generate early buy signals and thereafter we can expect the index to
achieve 12000-12200. Breaking of 11700 would indicate a fresh wave of sells
which could drive the index down to 11600 -11,500.
More
about intraday tips Whatsapp
On 9039542248
Resistance: 11950, 12000,
12050
Support: 11700, 11650, 11600
No comments:
Post a Comment