As expected Nifty future took exact support at 7430 and bounced back sharply again while Bank Nifty also recovered from lower levels and made a fresh two month high of 15550. FMCG, Healthcare and IT sectors performed well during this rally.
Now what to expect???
Nifty futures has support at 7470---7430 and resistance at 7630. SGX nifty trading up above 7600 levels. So we will expect gap up opening in Nifty and Nifty future. Further upside rally will see only weekly close above 7630 mark.
On the other hand.. We recommended BTST in Bank Nifty around 15500---15480. Let see what will happen at opening bell.
More Bank Nifty levels will update during market hours.
Today's top pick
Buy Kotak Mahindra Bank (Future) at around 655-653 Target 663-665 SL 644
More will be update soon during market hours only on our Android App!!
