"Both the indices have opened positive and closed positive at the upper end of trading range, due selective buying and short covering. Nifty futures opened with a positive gap and the discount now stands at 14 points. Today being the last day of the week, profit sales at higher levels can be expected. The inflation data to be released at 12 noon will give the next push to the markets.
DLF issue is over subscribed. Crude is trading above $67 and the global cues are positive which should help the markets open in positive mood and the indices are likely to close positive for the week, on week on week basis. The indices have closed above 5 DSMA and shall encounter the stiff resistance at 20 DSMA level which now stands at 4225 (Nifty) & 14325 (Sensex).
The day's range for Nifty shall be 4100 (Support) and 4225 (Resistance); Sensex shall be 13950 (Support) and 14325 (Resistance)
No comments:
Post a Comment