Nifty 8808 /Sensex 28634/ Bank Nifty 19906
36 Advances /15 Declines/ 0 Unchanged
Sensex ends higher for 4th day, Nifty above 8800 on global rally
Equity benchmarks closed its range bound session on a positive note Monday following the rally in global markets ahead of central bank meetings in the US and Japan.
The 50-share NSE Nifty held psychological 8800 level throughout the session, up 28.55 points at 8808.40. The 30-share BSE Sensex was up 35.47 points at 28634.50 while the broader markets outperformed benchmarks, up over half a percent.
Investors remained stock specific as TCS retained its top position in the buying list on Sensex, up 2℅.
Reliance Industries, Tata Motors, ONGC, L&T and M&M gained 0.3-1 percent while ITC, HDFC Bank, Axis Bank, Maruti, HDFC, Hero Motocorp and Bajaj Auto fell 0.5-1.5 percent. The market breadth remained positive as about 1486 shares advanced against 1250 declining shares on the BSE.
Our Options recommendations have started picking up good momentum.
We booked part profit in Ceat Ltd 1080 CE around 42—45. It was recommended to buy around 30. Lot size 700.
Another part profit is booked in Apollo tyre 220 CE around premium of 7.10—
7.50. It was asked to buy around 5.30. Lot size is 3000.
Now what to expect next??
Nifty future levels
Nifty has major support still intact at 8680 and resistance is at 8880.
A move below 8780 will take nifty futures to its next support of 8720—8680.
Further downside panic will see only close below 8680 mark else it could test its resistance level of 8880 again.
Further upside rally will see only close above 8880 mark.
Trade with levels only
Today's Top Pick
Intraday... ICICI Bank in cash segment.
Yesterday's high and low is crucial. Above 272.50 we will see rally till 277---280 mark.
Support and stop loss below 267.50.
Fresh sell only close below 267.50 mark
