The market after positive opening yesterday surged higher and moved with positive bias throughout the session on hopes of rate cut by the apex bank at its meet on 2nd June 2015. The market rally was led by financials and IT shares among others while metal, capital goods, auto and FMCG shares declined. The Sensex closed at 27837 up by 191 points while the Nifty ended at 8423 up by 57 points. The market breadth remained positive as 1372 shares advanced while 1293 declined. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8424.30)
The counter after positive opening yesterday surged to day’s high of 8449 in early morning trades and thereafter the counter moved with positive bias albeit with moderate volatility. The counter finally closed gaining 58 points. The counter may move further to 8458/8483 on positive opening. Strong support for the counter exists at 8409.25 which if breached decisively with volumes then it may slide to 8388/8362.
The counter after positive opening yesterday surged to day’s high of 8449 in early morning trades and thereafter the counter moved with positive bias albeit with moderate volatility. The counter finally closed gaining 58 points. The counter may move further to 8458/8483 on positive opening. Strong support for the counter exists at 8409.25 which if breached decisively with volumes then it may slide to 8388/8362.
BANK NIFTY FUTURE (Last close 18523.60)
The counter after positive opening yesterday surged higher in early morning trades and moved with positive bias throughout the session and finally closed with a gain of 157 points. The counter may move further to 18592/18653 on positive opening. Strong support for the counter exists at 18478.25 which if breached decisively with volumes then it may slide to 18429/18355.
The counter after positive opening yesterday surged higher in early morning trades and moved with positive bias throughout the session and finally closed with a gain of 157 points. The counter may move further to 18592/18653 on positive opening. Strong support for the counter exists at 18478.25 which if breached decisively with volumes then it may slide to 18429/18355.
INDIABULHSGFIN FUTURE (Last close 574.70)
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining over 1%. The stock appears positive on charts and may move up to 579/584 on volume trading. Strong support for the stock exists at 571.25.
The stock after consolidating during the past sessions closed yesterday above its weekly resistance with moderate volumes gaining over 1%. The stock appears positive on charts and may move up to 579/584 on volume trading. Strong support for the stock exists at 571.25.
KTK BANK FUTURE (Last close 126.80)
The banking 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 129/131 on volume trading. Strong support for the stock exists at 125.25.
The banking 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 129/131 on volume trading. Strong support for the stock exists at 125.25.
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