Nifty 8744/Sensex 28343/Bank Nifty 19531
47 Advances /4 Declines/ 0 Unchanged
Sensex soars 440 pts, Nifty ends at fresh 16-month closing high
About 18 stocks out of Nifty 50 hit fresh 52-week high today. Bharti falls 3 %
It turned out to be a magical day as Nifty gained back its 16th month high yesterday as Nifty spot gained 136 points and closed at 8744.This happened despite RBI killed any hopes of further rate cut in its annual report yesterday. Improved FII inflow despite likely Fed rate hike also added to the momentum.
The 30-share BSE Sensex was up 440.35 points or 1.58 percent to end at fresh 13-month closing high of 28343.01.
Bank Nifty on the other hand broke above its resistance of 19600 and closed at 19638 in futures. This can be taken as a good positive and as usual bank nifty can give further direction to nifty futures.
We were very agile and were able to catch this momentum in this market and our clients gained with our recommendations.
Hindalco future was asked to buy above 157 and we booked full profit in this at 162.50. Lot size is 7000.
Karnataka Bank future was asked to buy above 152 and we booked profit in this around 155
In our Cash recommendation of Delta Corp, we booked part profit around 163 and it was asked to buy around 157—155.
Another part profit was booked in Cash recommendation of India Cement around 153--154 and it was asked to buy at 148.
In options as well, India Cements shined and our Intraday traders booked profit in India Cements 150 CE around 7.90 and it was recommended to buy around 7—6.50. Lot size is 7000.
Intraday Traders booked profit through our recommendations in Maruti, SBI, Nifty and Bank Nifty. Positional Traders are still holding long in these and we will be booking profit very soon.
You still expect more??
Need not to worry, keep following our levels as well and keep minting money.
Now what to expect next??
Nifty and Bank Nifty future levels
Nifty futures after a good positive rally is left with immediate and strong resistance at 8800 level. Two consecutive and a weekly close above this level is necessary for its next bullish rally for the upside target of 9100 which we are holding since long.
Support is intact at 8720—8660 levels. Downward panic only on breach below these levels is possible.
Bank Nifty on the other hand has successfully breached its resistance of 19500, and a weekly close above this level will give more strength to this level.
Today's Top Pick
Heavy Rainfall in Delhi and Delhi NCR. Our yesterday's top pick in Hindalco proven great.
Today we will bet on
ACC future... Hurdle at 1710. Above 1710 catch it for the upside target of 1725---1740+ mark.
Support and stop loss below 1680
