The Nifty continued to trade in the narrow range of 5,680 to 5,710 for most of the session however in the last hour of trade we got a positive up move with the Nifty closing at the high of the day at 5,724. I still hold a positive bias on the market and am holding on to my Bank Nifty longs for the last 3 days expecting an upward breakout. We could see levels of 5,800 maybe even 5,900 if 5,730 is taken out with force.
Markets are expected to open on flat note in today session but will see buying support at lower levels. Overall markets are stuck in broad range of 5,580-5,780 and any breakout of this range on either side will further set the direction of the indices.
The Sensex has supports at 18,750 and 18,620 and resistances at 18,910 and 19,050. The Nifty spot has supports at 5,690 and 5,665 and resistances at 5,750 and 5,780.
0 comments:
Post a Comment