Markets settled on a positive note despite of subdued sentiments on renewed Cyprus bailout or other domestic political issues and F&O Expiry. On weekly charts, Nifty future has found support around its 50 day EMA and 5550 is seen as major crucial support in the coming sessions. While 5800 will act as near term resistance holding above which may lead towards next hurdle of 5900.
Crucial Point: 5550
Market Weekly News:
Sensex posts weekly gain of 100 points; consumer durables jumps 4%.
Asian markets slip, spooked by eurozone fears.
Welspun Corp repurchases FCCBs worth $24.4 million.
Morgan Stanley sells YES Bank shares worth Rs 121 crore.
Aurobindo Pharma gains from USFDA import alert.
TCS FUTURE IS CONSOLIDATING AROUND HIGHER LEVELS IN ITS BULL RALLY AND MAY GIVE A BREAKOUT ABOVE THIS CONSOLIDATION RANGE.
BUY ABOVE 1588 TARGETS 1620-1655. MAINTAIN SL OF 1540.
ITC BUY ABOVE 311 TARGETS 316-322 SL 304.
PCJEWELLER BUY ABOVE 115 TARGETS 119.50-123 SL 109.50.
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