Nifty 8727 /Sensex 28372/ Bank Nifty 19909
32 Advances /19 Declines/ 0 Unchanged
“Sensex gains 186 pts, Nifty ends above 8750; ICICI, HDFC fall”
Equity benchmarks closed higher for third consecutive session but were off day's high due to some profit booking in afternoon trade.
The 30-share BSE Sensex was up 186.14 points at 28599.03 and the 50-share NSE Nifty gained 37.30 points at 8779.85 whereas the broader markets ended marginally lower on weak breadth.
About 1423 shares declined against 1310 advancing shares on the BSE.
ITC and Hero MotoCorp were top gainers in trade today while Reliance Industries hit 27-month high intraday, closing with a gain of 1 percent.
However, HDFC and ICICI Bank dragged the market from day's high while ITC, HDFC Bank and Infosys provided support.
Nifty showed intense volatility for the day as in the opening session of trade we saw highly bullish move as global market provided Nifty with the much needed lift and hence support of 8750 proving to the working for Nifty and it made high of 8848 before closing the session with gain of just 37 points and eroded all the intraday gain as profit booking intensified to make low of 8751 before closing the intense volatile session at 8780.
Our BTST call to BHEL (Fut/cash) around 151.50—151 proved great. It flared and made a high of 153.80 before closing the session at 147.80 .We Booked part profit at 150.50.
Our call to UBL (Fut) around 850 proved great. It flared and made a high of 893.90 before closing the session at 829.15 We Booked part profit at above 883.
Now what to expect next..??
Nifty and Bank nifty future levels
Nifty has immediate support at 8680 levels and resistance is at 8850--8880.
On close below 8780 we will expect further panic in Nifty future till its next support of 8720---8680.
Further downside panic will see only close below 8680 mark else it could test it's resistance level of 8850---8880 again.
Trade with levels only
