Nifty 8611 /Sensex 27866/ Bank Nifty 19286
28 Advances /23 Declines/ 0 Unchanged
“Nifty ends above 8600; Tata Steel & SBI up, ITC down 1%”
The market continued to consolidate in afternoon trade despite correction in global peers while the broader markets extended rally with the BSE Midcap and Smallcap indices rising 1.5 percent each.
The Nifty saw biggest fall in four weeks. The 50-share index was up 19.90 points or 0.2 percent at 8611.15. The Sensex was up 38.43 points or 0.1 percent at 27865.96. GAIL, ONGC, M&M, Tata Steel and SBI were top gainers while Cipla, ITC, HUL, Coal India, Dr Reddy's and HUL were losers in the Sensex.
"U.S. futures flat on Deutsche Bank jitters, Fed inflation data on tap"
Wall Street futures pointed to a flat open on Friday as concerns over Germany’s largest lender Deutsche Bank kept U.S. market participants cautious while they awaited key data including the Federal Reserve’s (Fed) favorite inflation indicator, the core personal consumption expenditures (PCE) price index.
Nifty showed a volatile session for the day among negative news and tried to hold 8600 to form support as bulls and bears tried to swing market in either direction and investors tried to maintain a stock specific approach and entered in selective scrip as an attractive buy for long term as Oil & Gas sector metal sector and small cap provided the market with a positive momentum.
Now what to expect next..??
Nifty and Bank nifty future levels
Nifty has immediate support at 8560 levels and resistance is at 8700.
On close below 8560 Nifty we can expect it to test its next support of 8480---8450 and then to 8400 else it could test its resistance level of 8700. Further upside rally will see only close above 8700.
Bank Nifty has immediate support at 19300 and hurdle is intact at 19550.
Break and sustain below 19300 will take it to 19020---19000 mark in days to come else it could test its resistance level of 19550.
Above 19550 it can touch 19700--19850 mark.
Trade with levels only
Today's Top Pick
Today's top pick will update during market hours
More will update soon!!
More will update soon!!
