Markets continued its bullishness and boosted sentiments were seen in the post noon trade on the back of strengthening in rupee and settled on a strong note. Nifty future may now face stiff resistance of the 100 day EMA of 5735 surpassing which 5800 is seen as a crucial point of it. On daily charts, it had closed above the downward channel pattern indicating strength. Any correction will find near term support around 5640 below which 5570 is seen as next support.
SUPPORT : 5640 & 5570
RESISTANCE: 5740 & 5800
Daily Markets Trend-
- Sensex climbs 290 points to close above 19,200.
- Fortis gains after raising Rs 370 mn via PE.
- Bombay HC dismisses Vodafone petition against I-T dept.
- Elder Pharma down on profit-booking post stake sale rumours.
- CIL has signed FSA’s with 140
Equity Stock Calls-
LUPIN EQ SELL BELOW 835.50 TARGETS 827.20/818.70/810.50 SL 843.90
TATASTEEL EQ BUY ABOVE 296.35 TARGETS 299.30/302.30/305.30 SL 293.40
Future Stock Calls-
DABUR FUT SELL BELOW 162.70 TARGETS 161.70/160.70/159.70 SL 163.70
SUNPHARMA FUT Buy above 533.50 TARGETS 537.50/541.50/545.50 SL 529.50