Nifty 8270/Sensex 27002/Bank Nifty 17892
37 Advances/14 Declines/0 Unchanged
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Indian market was trading flat for most of the day but strong positive opening of the European market ahead of the BREXIT helped Indian market to start a positive rally. This rally may signify that BREXIT may not be happening as european market remained strong and Price may have discounted the event and we can expect the market to remain volatile to positive. Market experts advise investors to take long positions only after Brexit vote outcome.If BREXIT is not happening then Nifty has chance to touch 8500 in the future.
The 30-share BSE Sensex climbed 236.57 points or 0.88 percent to 27002.22, driven by banking & financials, auto, healthcare and FMCG stocks.
Bank Nifty gained 266 points and closed at 17892. Huge gains in banking sector is considered positive for Nifty as well.
Despite Market volatility our subscribers booked profit in our recommendations.
We booked full profit in PNB at 97.80, it was asked to buy around 90—93.
Hexaware skyrocketed and our subscribers were aboard on this rocket. Told to buy around 226 and we booked full profit in it at 235.50
We booked part profit in Titan at 381.50, we had advised to buy around 379-378.
Nifty and Bank Nifty Levels.
Nifty futures now stands just close to the resistance of 8300—8320. For a fresh bullish rally Nifty futures must close above the 8300 level consecutively two days, and a weekly close will confirm the further rally to the next target of 8500.
With Britain still remaining in the European Union we are expecting Nifty to remain positive and cross the resistance of 8300.
If some correction comes then support remains at 8240 level, below this level Nifty can test 8150 levels.
Bank Nifty on the other hand has an immediate resistance at 17900 levels. Next resistance is at 18000 level which is a strong resistance level, a close above this level can be a good buying opportunity.
Support remains intact at 17800 and the next at 17690. If this level is breached there can be panic and weakness as next support building below 17400.
More will update soon!!
