The market closed the week with the Sensex at 27957 up by 633 points while the Nifty ended at 8458 up by 196 points on the back of hopes of interest rate cut, progress of monsoon, government’s move on MAT, positive global cues among others. The stocks of IT, pharma, banking, capital goods among others gained while metal shares closed weak. Market will be watching Q4 results of Tata Motors, ONGC, BHEL, M&M, Sun pharma, Cipla, Coal India, Gail, and Oil cos. among others. The market this week may witness stock specific activity and remain volatile as May’15 F&O derivative series expires this Thursday. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 8452.05)
The counter closed the week gaining 190 points amid high volatility and intra week swing of 224 points. The counter this week may remain in the range of 8342-8531, break above it may move up to 8569/8598 or else break below it may slide to 8300/8271. For today’s trading the counter to retain its up move needs to trade and remain above 8473.75 whereby it may move up to 8488/8507. Strong support for the counter exists at 8433.25 which if breached decisively with volumes then it may slide to 8417/8394. The counter may remain volatile in view of current month derivative series expiry this Thursday.
The counter closed the week gaining 190 points amid high volatility and intra week swing of 224 points. The counter this week may remain in the range of 8342-8531, break above it may move up to 8569/8598 or else break below it may slide to 8300/8271. For today’s trading the counter to retain its up move needs to trade and remain above 8473.75 whereby it may move up to 8488/8507. Strong support for the counter exists at 8433.25 which if breached decisively with volumes then it may slide to 8417/8394. The counter may remain volatile in view of current month derivative series expiry this Thursday.
BANK NIFTY FUTURE (Last close 18375.25)
The counter closed the week gaining 212 points amid high volatility and intra week swing of over 700 points. The counter this week may remain in the range of 18153-18593, break above it may move up to 18688/18759 or else break below it may slide to 18039/17957. For today’s trading the counter to retain its up move needs to trade wand remain above 18422.75 whereby it may move up to 18462/18519. Strong support for the counter exists at 18333.25 which if breached decisively with volumes then it may slide to 18277/18218.
The counter closed the week gaining 212 points amid high volatility and intra week swing of over 700 points. The counter this week may remain in the range of 18153-18593, break above it may move up to 18688/18759 or else break below it may slide to 18039/17957. For today’s trading the counter to retain its up move needs to trade wand remain above 18422.75 whereby it may move up to 18462/18519. Strong support for the counter exists at 18333.25 which if breached decisively with volumes then it may slide to 18277/18218.
AMBUJA CEMENT FUTURE (Last close 241.35)
The stock after consolidating during the past sessions closed the week gaining nearly 3% with moderate volumes. The stock appears positive on charts and may move up to 244/246 on volume trading. Strong support for the stock exists at 239.25.
The stock after consolidating during the past sessions closed the week gaining nearly 3% with moderate volumes. The stock appears positive on charts and may move up to 244/246 on volume trading. Strong support for the stock exists at 239.25.
BIOCON FUTURE (Last close 447.95)
The stock after consolidating during the past sessions closed the week gaining over 1% with moderate volumes. The stock appears positive on charts and may move up to 452/455 on volume trading. Strong support for the stock exists at 444.00.
The stock after consolidating during the past sessions closed the week gaining over 1% with moderate volumes. The stock appears positive on charts and may move up to 452/455 on volume trading. Strong support for the stock exists at 444.00.
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