Markets opened on a firm note and maintained on higher side amid volatility due to IIP data and finally ended above their crucial resistance levels. Nifty future gave satisfactory closing above 5600 mark and also surpassing the trend line coming from previous highs around 6100 on daily charts. Index can show some correction if it is able to maintain 5500 while on higher side resistance is seen in the range of 5670-5700 while 38.2% retracement is coming around the level of 5740.
SUPPORT : 5565 & 5500
RESISTANCE: 5660 & 5710
- Sensex ends up 158 points; metal, FMCG rally.
- SBI Q1 net falls 14% on higher provisions against bad loans.
- TechM Q1 consolidated profit climbs 27%; up 7.6% q-o-q.
- Britannia Q1 cons net profit jumps 93% to Rs 90cr.
- Aurobindo Pharma up 8% on Q1 nos, injectable biz demerger.
Intraday Stock Calls –
BPCL EQ BUY BELOW 285.85 TARGETS 288.60/291.40/294 SL 283
M&M FIN EQ BUY BELOW 250.50 TARGETS 253/255.50/258 SL 248
Stock Future Calls –
ADANIENT FUT BUY BELOW 173 TARGETS 175/177/179 SL 171
ASIANPAINTS FUT BUY BELOW 440.50 TARGETS 442.50/444.50/446.50 SL 438.50