It was a deciding session yesterday as the market was at crucial stage where it could have turned either way but market showed strength where Nifty gained 132 points closing at 7866 above important levels of 7800. Sensex gained 460 points closing at 25688. While Bank Nifty added 389 points to the index closing at 16686.
With this strength shown by market in almost all sectors it is believed that this positive trend will continue and buying at dips will remain as the strategy.
About 1665 shares have advanced, 972 shares declined, and 165 shares are unchanged.
Bajaj Auto, Axis Bank, HDFC Bank and ITC were top gainers while Dr Reddy's Labs, HUL, Cipla, Tata Steel and GAIL were major losers in the Sensex.
Our calls proved great yet again!!
We booked part in our Nifty 7900 CE around 88--90 which was advised to buy around 65--60.
Nifty future was advised to buy above 7830 and we booked part profit in this at 7900.
Our call of LT, JET airways, HDFC, Asian paints and many more proven great.
We waited for market to give direction and our patience paid....
Still need trial... need not to worry at all. Watch more!!
Now what next for today??
Nifty Future ....Yesterday we clearly indicated to buy Nifty future above 7830 mark. It flared like anything and crossed 7900 mark
Now what to expect???
Now 7820---7770 act as a support while resistance is at 7920. Looks positive and could test 7920. Once break above this level will take nifty futures to touch its next resistance of 7950---7980 and then to 8050 mark in days to come. More strength with see only break and close above 8065 mark.
Bank Nifty on the other hand has gap support at 16600--16500. Any negative movement will be there only below these levels else now resistance stands at 16810,and a cross above 16810 we will see Bank Nifty futures to touch its next resistance of 17100.
Traders can trade with levels only and wait for confirmation. Anything seems will update during market hours.
Today's Top Pick
Power Grid corporation of India
It looks superb on daily chart having support at 140. Above 143... it looks positive and could test 148---152 mark.
Traders can buy in panic with stop loss below 140.
Exact entry and exit only to our subscribers
More will be update soon. Keep visiting our blog and App for prompt notification.
