Markets gained momentum from the beginning of the session and Govt. measures to control CAD further accelerated and extended gains towards their key resistance levels. Nifty future after surpassing the previous day resistance of 5660 surged towards 5700 mark. Now, index is in correction mode where 200 day EMA around 5800 will act as major resistance. On lower side, support range is seen around 5620-5570 levels.
SUPPORT : 5670 & 5630
RESISTANCE: 5750 & 5800
Daily markets trend –
- Sensex climbs 283 points to settle above 19,200.
- Hindalco Q1 profit rises 11.8%, beats forecast.
- M&M Q1 net up 29% to Rs 938 cr on other income, tractor biz.
- Tech Mahindra shares hit 6-year high post Q1 earnings.
- DLF surges as Q1 result beats estimates.
Intraday Stock Calls-
ALBK EQ BUY ABOVE 75 TARGETS 75.75/76.50/77.30 SL 74.20
HEXAWARE EQ BUY ABOVE TARGETS 123.50/124.75/126 127.30 SL 122.20
Future Stock Calls-
SUNPHARMA FUT BUY ABOVE 555 TARGETS 559/563/567 SL 551
SUNTV FUT BUY ABOVE 430 TARGETS 434/438/442 SL 426
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