Markets saw a strong pull back as a result of sharp short covering rally supported by rebounding of rupee and finally ended in green territory. Nifty future was in pull back mood with the start of the session and resisted around 5475 from where certain correction took place. It is consolidating in the range of 5570-5300 since last few sessions which needs a proper breakout on either side. Strength can be said if it maintains above 5500 while 5300 is still acting as major support.
SUPPORT : 5380 & 5320
RESISTANCE: 5485 & 5525
Daily Markets Trend-
- Sensex trades up nearly 200 points; auto, oil & gas, metal lead.
- TCS shares hit new high, market value crosses Rs 4 trillion.
- SKS Microfinance plunges over 4% on stake sale.
- Ipca Labs rally 9% on USFDA nod for Indore facility.
Intraday Stock Calls-
AMBUJACEM EQ BUY ABOVE 172 TARGETS 173.70/175.40/177.20 SL 170.30
IRB EQ SELL BELOW 60 TARGETS 59.40/58.80/58.20 SL 60.60
Future Stock Calls-
APOLLOTYRE FUT BUY ABOVE 65.25 TARGETS 65.75/66.25/66.75 SL 64.75
LICHSGFIN FUT SELL BELOW 158 TARGETS 156/154/152 SL 160