The market after positive opening yesterday remained range bound throughout the session witnessing short covering in front line stocks ahead of F&O expiry and finally closed with the Sensex at 27098, up by 217 points while the Nifty ended at 8090, up by 62 points led by gains in reality, metal, IT, auto stocks among others. The market breadth remained positive as 1682 shares advanced while 1407 declined. Readers are advised to trade with caution keeping stock specific approach as Oct. F&O series expires today.
NIFTY FUTURE (Last close 8089.15)
The counter after positive opening yesterday moved with moderate volatility throughout the session and finally closed with a gain of 48 points. The counter may remain volatile today in view of F&O expiry and may move up to 8125/8143 once it trades and remains above 8108.75. Strong support for the counter exists at 8077.25 which if breached decisively with volumes then it may slide to 8059/8040.
The counter after positive opening yesterday moved with moderate volatility throughout the session and finally closed with a gain of 48 points. The counter may remain volatile today in view of F&O expiry and may move up to 8125/8143 once it trades and remains above 8108.75. Strong support for the counter exists at 8077.25 which if breached decisively with volumes then it may slide to 8059/8040.
BANK NIFTY FUTURE (Last close 16640.60)
The counter after strong opening yesterday failed to hold on to the opening levels and drifted lower as the session progressed and finally closed with marginal loss of 48 points. The counter to gain strength needs to trade and remain above 16698.75 whereby it may move up to 16747/16785. Strong support for the counter exists at 16595.25 which if breached decisively with volumes then it may slide to 16539/16500.
The counter after strong opening yesterday failed to hold on to the opening levels and drifted lower as the session progressed and finally closed with marginal loss of 48 points. The counter to gain strength needs to trade and remain above 16698.75 whereby it may move up to 16747/16785. Strong support for the counter exists at 16595.25 which if breached decisively with volumes then it may slide to 16539/16500.
RELIANCE INFRA FUTURE (Last close 581.05)
The stock after remaining range bound during the previous sessions closed yesterday above its weekly buy signal with 1% gain. The stock appears positive on charts and may move up to 585/589 on volume trading. Strong support for the stock exists at 576.25.
The stock after remaining range bound during the previous sessions closed yesterday above its weekly buy signal with 1% gain. The stock appears positive on charts and may move up to 585/589 on volume trading. Strong support for the stock exists at 576.25.
COAL INDIA FUTURE (Last close 358.10)
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 361/363 on volume trading. Strong support for the stock exists at 355.25.
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining marginally. The stock appears positive on charts and may move up to 361/363 on volume trading. Strong support for the stock exists at 355.25.
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