The market after firm opening yesterday moved range bound throughout
the session with positive bias amid moderate volatility surging to fresh
intraday high in mid-afternoon trade. The market however, trimmed
intraday gains at close on profit taking. The Sensex finally closed the
session at 17597 registering a gain of 119 points or 0.68% while the
Nifty closed at 5358 gaining 40 points or
0.76% after making day’s high of 5378 and a low of 5344. Interest rate
sensitive stocks remained in demand on hopes that the apex bank may
bring in economic measures to prop up slowing economy. Further, the
market may take cues from Q4 March 2012 corporate earnings which will
start rolling out from next week onwards. IT bellwether Infosys will
announce Q4 results on 13 April 2012. The market breadth yesterday
remained positive as on BSE 1764 stocks gained while 1053 declined.
Readers are advised to trade with caution keeping stock specific
approach.
NIFTY FUTURE (Last close 5383.25)
The counter after firm opening yesterday moved range bound throughout the session making fresh intraday high of 5402 in mid-afternoon trade on short covering and select buying. The counter finally closed the day gaining 32 points. The counter to gain strength needs to trade and remain above 5403.75 whereby it may move up to 5424/5449. Strong support for the counter exists at 5367.25 which if breached decisively with volumes then it may slide to 5351/5329.
SESA GOA FUTURE (Last close 199.85)
The stock after consolidating during the past sessions closed yesterday near its weekly buy signal with average volumes gaining about 6% over its previous close indicating accumulation of the stock at current rates. The stock appears positive on charts and may move up to 203/205 once it trades and remains above 200.75. Strong support for the stock exists at 197.25.
GRASIM FUTURE (Last close 2665.95)
The stock after consolidation closed yesterday above its weekly buy signal gaining more than half a per-cent over its previous close albeit with low volumes. The stock appears positive on charts and may move up to 2682/2696 on volume trading once it remains above 2669.75. Strong support for the stock exists at 2651.25.
NIFTY FUTURE (Last close 5383.25)
The counter after firm opening yesterday moved range bound throughout the session making fresh intraday high of 5402 in mid-afternoon trade on short covering and select buying. The counter finally closed the day gaining 32 points. The counter to gain strength needs to trade and remain above 5403.75 whereby it may move up to 5424/5449. Strong support for the counter exists at 5367.25 which if breached decisively with volumes then it may slide to 5351/5329.
SESA GOA FUTURE (Last close 199.85)
The stock after consolidating during the past sessions closed yesterday near its weekly buy signal with average volumes gaining about 6% over its previous close indicating accumulation of the stock at current rates. The stock appears positive on charts and may move up to 203/205 once it trades and remains above 200.75. Strong support for the stock exists at 197.25.
GRASIM FUTURE (Last close 2665.95)
The stock after consolidation closed yesterday above its weekly buy signal gaining more than half a per-cent over its previous close albeit with low volumes. The stock appears positive on charts and may move up to 2682/2696 on volume trading once it remains above 2669.75. Strong support for the stock exists at 2651.25.
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