STOCK NIFTY TREND 06 SEPT

stockMarkets sentiments were boosted due to announcements of reforms by newly appointed RBI Governor and also strength in rupee supported to maintain on higher levels. Nifty future after gap up opening sustained on higher side finding resistance near 50 day EMA and settled near 5600 mark. Now, strength can be observed if it sustains above 5640 while gap filling can be seen if it breaches the level of 5545 and major support is seen near 5475.

TREND: SIDEWAYS
SUPPORT      :  5545 & 5500
RESISTANCE:   5640 & 5700

Daily Markets Trend-

  • Sensex rallies 392 points; Bankex jumps over 8%.
  • Banking stocks jump as new RBI Governor gives fresh impetus.
  • Tata Motors gain on strong JLR retail sales.
  • Axis Bank up 14% as RBI lifts curbs on foreign investment.
  • IT stocks tumble as rupee strengthens.

Intraday Stock Calls-
DABUR EQ SELL BELOW 162.50 TARGETS 160.90/159.30/157.70 SL 164.15
TITAN EQ BUY ABOVE 234 TARGETS  236.40/238.80/241.20 SL 231.60

Future Stock Calls-
CENTURYTEX FUT BUY ABOVE 229 TARGETS 227/225/223 SL 231
TATASTEEL FUT SELL BELOW 286.70 TARGETS 284.70/282.70/280.70 SL 288.70

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