Markets continued its positive momentum in the last session and closed on a strong note above their immediate resistance levels. Nifty future took strong support of 5700 for the intraday session and pull back was seen towards 5750. This bullishness is expected to continue in the near term and 100 day EMA of 5844 will act as major resistance for this rally. Whereas on lower side support range is seen around 5700-5650.
SUPPORT : 5700 & 5650
RESISTANCE: 5800 & 5850
Daily Markets Trend –
- BSE Sensex up over 100 pts; auto, oil & gas, metals lead.
- WPI inflation accelerates to 5.79% in July.
- SAIL’s Q1 net declines 35% to Rs 451 cr on tax provision.
- Wockhardt Q1 net down 15% to Rs 323 cr, sales slightly up.
- Escorts soars 20% on strong volume & margin growth in Q1.
Intraday Stock Calls-
ESCORTS EQ BUY ABOVE 89 TARGETS 89.90/90.80/91.70 SL 88.10
SUNTV EQ BUY ABOVE 429 TARGETS 433.30/437.60/442 SL 424.70
Future Stock Calls-
CAIRN FUT BUY ABOVE 313.50 TARGETS 315.50/317.50/319.50 SL 311.50
HDFCBANKFUT BUY ABOVE 624 TARGETS 628/632/636 SL 620
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