What was the day yesterday; Nifty opened at 4990 and immediately bounced from opening level and breached its resistance level 5000 and 5030. After crossing the 5070 Nifty has indicated a remaining uptrend. Nifty has broken its all earlier resistance levels and made an intraday high at 5150 level before closing the 5144 with the gain of 150 points from previous close.
All sectors have performed very well but mainly METAL and OIL & GAS sector has outperformed. BSE METALS has closed with around 4% up and BSE OIL & GAS was around 3.5% up on Wednesday.
Share wise TATASTEEL, NTPC, SAIL, IDFC, RELIANCE, ICICIBANK, RELINFRA, IDBI, SUZLON, RELCAPITAL, SBIN and TATAMOTORS had buying interests.
After closing the Indian markets with very high gains. US markets opened mix on Wednesday between the choppy sessions DOW has closed flat while NASDAQ has closed with .75% gains. Now Asian markets are trading with some small gains, while SGX NIFTY is trading flat.
NIFTY may open flat and may be volatile today. NIFTY has a resistance around 5150 and very strong resistance at 5181. Nifty has support is around 5100 level, and a strong support at 5070. It is the last trading session of the week today so traders may book their weekly profits. Next week has EXPIRY of December series so market may also volatile in next week because traders change or close their positions to next series. So PROFIT BOOKING is advised at this level. In other hand if NIFTY cross and close above 5181 (around 5200 & SENSEX at 17500) then NIFTY may go 5325 to 5450 in coming days/weeks. Fresh buying is advised above or near 5200 levels.
All sectors have performed very well but mainly METAL and OIL & GAS sector has outperformed. BSE METALS has closed with around 4% up and BSE OIL & GAS was around 3.5% up on Wednesday.
Share wise TATASTEEL, NTPC, SAIL, IDFC, RELIANCE, ICICIBANK, RELINFRA, IDBI, SUZLON, RELCAPITAL, SBIN and TATAMOTORS had buying interests.
After closing the Indian markets with very high gains. US markets opened mix on Wednesday between the choppy sessions DOW has closed flat while NASDAQ has closed with .75% gains. Now Asian markets are trading with some small gains, while SGX NIFTY is trading flat.
NIFTY may open flat and may be volatile today. NIFTY has a resistance around 5150 and very strong resistance at 5181. Nifty has support is around 5100 level, and a strong support at 5070. It is the last trading session of the week today so traders may book their weekly profits. Next week has EXPIRY of December series so market may also volatile in next week because traders change or close their positions to next series. So PROFIT BOOKING is advised at this level. In other hand if NIFTY cross and close above 5181 (around 5200 & SENSEX at 17500) then NIFTY may go 5325 to 5450 in coming days/weeks. Fresh buying is advised above or near 5200 levels.
