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Nifty Spot
(Updated on 26.04.13 at 08.30 pm)
support @ 5899-5885
Hurdle @ 5933-5950.
If trades above 5924 with sustained vol
then see upside up to 5943-5950.
Unwinding of long position due to profit
booking likely at 5940-5960 zone
Need to be cautious at this zone in Longs.
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Key benchmark indices extended gains to hit fresh intraday high in early afternoon trade as gains in Asian stocks boosted sentiment. The S&P BSE Sensex was up 170.92 points to 19350.28. The CNX Nifty was up 60.85 points to 5897.75. The market breadth was positive. The Prime Ministers Economic Advisory Council has projected 6.4% growth in Indias GDP for FY14 higher than an estimated 5% growth for FY13. In 2013-14 the headline WPI inflation is expected to be around 6% compared with provisional figure at 5.96% at the end of 2012-13 the PMEAC said. Net FDI inflow is expected at $24 billion in 2013-14 from an estimated $18 billion in 2012-13. In contrast FII inflows are seen sliding to $18 billion in 2013-14 from an estimated $24 billion in 2012-13 it said. The RBI will announce the Monetary Policy Statement 2013-14 on May 3 2013. The RBI cut its repo rate by 25 basis points to 7.5% after a mid-quarter monetary policy review on March 19 2013. Inflation based on the monthly wholesale price index (WPI) eased the lowest level in 40 months at 5.96% in March 2013 and sharply lower than 6.84% in February 2013 data showed.
Nifty spot For Tomorrow
Nifty Spot has resistance at 5940-5970.
Above 5884 No worry for bulls.
Above 5924 see 5933-5945
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Banknifty Spot
No worry for bulls above 12426 for short term trend.
Support at 12480-12439.
Break below 12407 see slide up to 12247.
L&T Finance
Broken out consolidation
Buyers may enter above 78.50-79.25
target = 83-85
Exit below 77.70 for intraday
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Unlock This Article“BEARS ARE CORNERED. THE REVERSAL COULD BE POSTPONED”
If the investor behavior is to buy with bad news, having the knowledge that Bankers are supporting the equity market every time there is a threat of a potential top, how can bears culminate a reversal pattern?
But…
Last two Trading Secessions, We are enjoying selling at 5838-5844 and Profit booking 5800 around…,
See update of 22 April 2013 : Lower Top Trend Line at 5840-5851
Let’s move to the Nifty Future charts.Today, The next resistance is located at the 5886-5909, if crossover 5855 as mentioned in chart. Click on chart to zoom…
Maybe if in the next few days, Nifty future break 5800 and trade below it…then it will be short term downtrend…
SGX Nifty trading much higher…
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Unlock This Article
Nifty Future
(Updated on 22.04.13 at 08.30 AM)
Above 5796 see upside up to 5809-5820.
Hurdle at 5825-5833 for Intraday.
If trades above 5833 for 15 minutes and not breaking
5796-5789 then rally up to 5851-5878 possible.
Support at 5769-5761 for intraday.
Once breaks and trades this zone see slide up to 5748-5740.
Crucial support at 5740-5732.
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