Nifty closed at 5,560.15, up by 87.05 points or 1.59 percent over the previous day closing of 5,473.10, after witnessing a low of 5,489.70 and a high of 5,571.60. Sensex closed at 18,503.28, up by 271.22 points or 1.49 percent over the previous day closing of 18,232.06. It touched an intraday low of 18,266.61 and high of 18,526.80.
The markets’ breadth was positive. Out of 2,943 stocks traded, 1,831 stocks advanced, 1,001 stocks declined and 111 stocks remained unchanged. In Sensex, 29 stocks advanced and1 stock declined.
FIIs were net buyers with the tune of ` 1310.98 crore (prov. cash market fig.)
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VIEWS FROM DIFFERENT BROKING HOUSES:
CANARA BANK SECURITIES (CanMoney): “Technically, Nifty witnessed an excellent session, today. After last sessions’ flat closing, Nifty witnessed very good buying at all levels and earned good gains before closing on positive note. Nifty has displayed a short-term positive trend and today’s closing confirms the trend. In today’s session, Nifty breached the vital resistance of 5550 and 5550 and closed near day’s high. This may strengthen the bulls, in the forthcoming sessions. Nifty successfully progressed and maintained the sanctity of vital supports of 9 day’s & 14 day’s SMA placed at 5440 & 5454. In today’s session, Nifty, closed below its 50 and 100 day’s SMA placed at 5635 & 5591. These levels may act as new ranges in the coming sessions. Owing to good buying in large cap, Mid cap & small cap space, for the third consecutive session, market breadth rose to positive. In today’s session, VIX closed at a little lower level of 16.82%, indicating average volatility in market in the forthcoming sessions. RSI (14) for the session was at 52.39 levels and MACD was above the signal line, thus combined together they are giving the signals that, market may witness some upside movements in coming sessions”.
FAIRWEALTH SECURITIES: “Nifty touched key resistance level of today which was in between 5570-5575 and closed at 5560.Next session’s range of Nifty may be in between 5511-5575 and it may resist at 5605-5608 and 5639 and the key resistance level for the day will 5655.The support may be at 5473/5452 and the crucial support for the day will be 5411”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty above 5,550 levels else around 5,530 levels with stop loss placed at 5,500, targeting 5,600-5,630 levels”.
GEOJIT BNP PARIBAS FINANCIAL SERVICES (Alex Mathews): “The markets opened on a positive note tracking gains in the Asian space, moved up slowing giving time for all to take positions and from there went up towards the highest point of the day. Nifty breached above the key resistance of 5,524 and moved towards 5571 and closed at 5,560.15. On its journey towards north, it will face resistance at 5,591 and 5,605. Major support for Nifty is at 5,506 and 5,478 levels”.
GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “The market saw some volatility in the early part of the trading session and saw the high like a dot right on our resistance of 5564. Technically the move should continue up to 5585. Strong support is at 5500. The support for the Nifty is at 5500 and resistance at 5585. The crucial support on the Sensex on the downside is 18325 and resistance at 18560-18700”.
ANGEL BROKING (Mileen Vasudeo): “As expected and mentioned in earlier report, implications of positively poised momentum oscillators were seen and prices have convincingly closed above the 20-day SMA. This suggests continuation of upside momentum. In coming trading session if indices trade above 18,530/5,572 levels then they are likely 18,798/5,636 levels. On the downside, 18,320-18,250/5,500-5,480 levels may act as support for the day”.
MICROSEC SECURITIES: “Yesterday the bulls were able to manage Nifty above 5560. Yesterday’s volumes were also higher than last few days average volumes. So this upward rally might be continuing to 5610. If Nifty is able to maintain above 5610, a further upward rally might carry it to 5760 in extreme short term. However, a breach of 5470 would be treated as the end of current rally and in that case Nifty may take support near 5325. On an intra-day basis Nifty has a support at 5520 and is likely to face a stiff resistance near 5610. If Nifty breaks 5520, it may further go down to 5470 and then 5440. However, if it is able to sustain above 5610, the level of 5665–5690 would become the next target”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed continuous strength above 5,490 resistance level and closed above 5,550 levels. Overall it was a positive trading session. Next immediate resistance is at 5,610 levels. If in coming sessions, Nifty sustains above 5610 level, medium term trend may turn positive. For daily purpose, trend deciding level is at 5,575. If Nifty shows strength above 5,575 levels, then rally to 5,610/5,650/5,690 levels may be seen. If Nifty does not show strength above 5,575 levels then selling pressure till 5,530/5,490/5,465 may also be seen”.
EDELWEISS FINANCIAL ADVISORS: “On the lower side Nifty is likely to face strong support in the vicinity of 5480-5520 level, the level (5500) which consists of the highest addition in OI (i.e. 10.29 lacs shares) among the Nifty put options. On the other hand on the higher side Nifty is likely to face strong resistance in the vicinity of 5580-5620 level, the level (5600 which consists of the second highest OI (i.e. 49.90 lacs shares) among the Nifty Call Options”.
SWASTIKA INVESTMENT: “In nifty daily chart a Long White Candle is formed with negligible lower shadow indicating that the Bulls were active for the whole session. For the coming trading session Resistance for Nifty is seen at 5580 and if it continues to sustain above this level decisively then the rally may continue and it may head towards 5630/5650 whereas on the downside support for the day is seen at 5520/5490”.
BONANZA ONLINE: “Nifty showed continuous strength above 5490 resistance level and closed above 5550 level. Overall it was a positive trading session. Next immediate resistance is at 5610 level. If in coming sessions, Nifty sustains above 5610 level, medium term trend may turn positive. For daily Purpose, Trend deciding level is 5575. If Nifty shows strength above 5575 levels, then rally to 5610/5650/5690 levels may be seen. If Nifty does not show strength above 5575 levels then selling pressure till 5530/5490/5465 may also be seen”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18421/5540 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18609-18715/5591-5622 levels. However, if Nifty trades below 18421/5540 levels for the first half-an-hour of trade then it may correct up to 18315-18126/5509-5459 levels”.
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