The market after flat opening yesterday slipped to session low on profit taking in early morning trades but with some recovery thereafter moved in a choppy fashion throughout the session and finally closed flat with the Sensex at 26597, down by 29 points after making intra-day high of 26715 while the Nifty ended at 7958, down by 9 points. The market breadth remained positive as 1929 shares advanced while 1152 declined. The market will be keenly watching monetary policy review by the RBI today which may set short term trend. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 7993.90)
The counter after flat opening yesterday soon slipped to session low of 7970 in early morning trades on profit taking but recovered in subsequent trades and moved thereafter range bound and finally closed flat with marginal loss of 38 points. The counter to gain strength needs to trade and remain above 8016.75 whereby it may move up to 8038/8050. Strong support for the counter exists at 7975.25 which if breached decisively with volumes then it may slide to 7956/7938.
The counter after flat opening yesterday soon slipped to session low of 7970 in early morning trades on profit taking but recovered in subsequent trades and moved thereafter range bound and finally closed flat with marginal loss of 38 points. The counter to gain strength needs to trade and remain above 8016.75 whereby it may move up to 8038/8050. Strong support for the counter exists at 7975.25 which if breached decisively with volumes then it may slide to 7956/7938.
BANK NIFTY FUTURE (Last close 15542.35)
The counter after flat opening yesterday drifted lower as the session progressed and finally closed losing over 180 points ahead of apex bank’s monetary policy review. The counter to gain strength needs to trade and remain above 15577.75 whereby it may move up to 15626/15695. Strong support for the counter exists at 15503.75 which if breached decisively with volumes then it may slide to 15423/15356.
The counter after flat opening yesterday drifted lower as the session progressed and finally closed losing over 180 points ahead of apex bank’s monetary policy review. The counter to gain strength needs to trade and remain above 15577.75 whereby it may move up to 15626/15695. Strong support for the counter exists at 15503.75 which if breached decisively with volumes then it may slide to 15423/15356.
GODREJ IND FUTURE (Last close 311.60)
The stock after remaining firm during the past session witnessed informed buying yesterday and closed above its short term trend line with moderate volumes gaining marginally. The stock appears positive and may move up to 315/317 on volume trading. Strong support for the stock exists at 307.50.
The stock after remaining firm during the past session witnessed informed buying yesterday and closed above its short term trend line with moderate volumes gaining marginally. The stock appears positive and may move up to 315/317 on volume trading. Strong support for the stock exists at 307.50.
JUBILANT FOODS FUTURE (Last close 1244.05)
The stock after remaining firm during the past session closed yesterday above its medium term trend line with moderate volumes gaining marginally hitting a high of 1272 in intra-day trades. The stock appears positive on charts and may move up to1254/1263 on volume trading. Strong support for the stock exists at 1236.25.
The stock after remaining firm during the past session closed yesterday above its medium term trend line with moderate volumes gaining marginally hitting a high of 1272 in intra-day trades. The stock appears positive on charts and may move up to1254/1263 on volume trading. Strong support for the stock exists at 1236.25.
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