The market opened strong on the back of better than expected RIL’s Q1 results but amid volatility and profit taking the market at close finally ended flat with FMCG and oil & gas sector stocks leading the gain. The Sensex closed at 25685 up by 43 points after making intra-day high of 25861 while the Nifty ended at 7684 gaining 20 points. The market breadth however, remained strong as 1809 stocks advanced while 1293 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 7686.20)
The counter after strong opening yesterday and hitting day’ high of 7719 in late morning trades failed to sustain at higher levels on profit taking and slipped lower in subsequent sessions. The counter finally closed flat with marginal gain of 16 points. The counter may move up to 7705/7729 on positive opening. Strong support for the counter exists at 7671.25 which if breached decisively with volumes then it may slide to 7651/7632.
The counter after strong opening yesterday and hitting day’ high of 7719 in late morning trades failed to sustain at higher levels on profit taking and slipped lower in subsequent sessions. The counter finally closed flat with marginal gain of 16 points. The counter may move up to 7705/7729 on positive opening. Strong support for the counter exists at 7671.25 which if breached decisively with volumes then it may slide to 7651/7632.
BANK NIFTY FUTURE (Last close 15410.65)
The counter after strong opening yesterday and hitting session high of 15577 in morning trades failed to sustain at higher levels on profit taking and drifted lower as the session progressed. The counter finally closed flat with marginal loss. The counter to gain strength needs to trade and remain above 15457.75 whereby it may move up to 15525/15578. Strong support for the counter exists at 15368.25 which if breached decisively with volumes then it may slide to 15307/15239.
The counter after strong opening yesterday and hitting session high of 15577 in morning trades failed to sustain at higher levels on profit taking and drifted lower as the session progressed. The counter finally closed flat with marginal loss. The counter to gain strength needs to trade and remain above 15457.75 whereby it may move up to 15525/15578. Strong support for the counter exists at 15368.25 which if breached decisively with volumes then it may slide to 15307/15239.
BHARTI AIRTEL FUTURE (Last close 338.55)
The stock after consolidating during the past week closed yesterday above its weekly buy signal with moderate volumes gaining ½%. The stock appears positive on charts and may move up to 341/344 on volume trading. Strong support for the stock exists at 336.00.
The stock after consolidating during the past week closed yesterday above its weekly buy signal with moderate volumes gaining ½%. The stock appears positive on charts and may move up to 341/344 on volume trading. Strong support for the stock exists at 336.00.
COAL INDIA FUTURE (Last close 378.55)
The stock after consolidating during the past week closed yesterday above its weekly buy signal with moderate volumes gaining over ½%. The stock appears positive on charts and may move up to 382/385 on volume trading. Strong support for the stock exists at 374.00.
The stock after consolidating during the past week closed yesterday above its weekly buy signal with moderate volumes gaining over ½%. The stock appears positive on charts and may move up to 382/385 on volume trading. Strong support for the stock exists at 374.00.
Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won’t be liable or responsible for any legal or financial losses made by anybody.
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