Markets were able to sustain above their support levels for the whole session on back of strength in rupee and finally settled on a buoyant note. Nifty future is facing immediate resistance of 5500 holding above which can lead towards the next resistance range of 5530-5570 as reversal from oversold region on daily charts is also observed. If it surpasses the support of 5400 then some selling pressure can be seen where next support is seen near 5350.
TREND : SIDEWAYS
SUPPORT : 5410 & 5350
RESISTANCE : 5500 & 5560
Daily Markets Trend –
Sensex jumps 206 points to close above 18,500.
European markets little changed, set for 1st weekly loss since June.
Hexaware climbs on buzz Baring PE picks stake.
Reliance Industries, BP discover new gas in Cauvery basin.
MERC allows Reliance Infra to recover Rs 9.25 bn arrears.
Intraday Stock Calls-
BPCL EQ BUY ABOVE 304 TARGETS 306/308/310 SL 302
WIPRO EQ BUY ABOVE 455 TARGETS 459/463/467 SL 451
Future Stock Calls-
POWERGRID FUT BUY ABOVE 102 TARGETS 98/100/101 SL 99
TATAPOWER FUT BUY ABOVE 80.90 TARGETS 77.70/79.30/80.10 SL 78.50
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