NIFTY CLOSED AT A NEW HIGH OF 30 MONTHS .....
Strong cues from European Market led huge buying activity in Indian indices in the final hour of the session. Finance, Auto, Metals and FMCG are the highest gainers while Realty faced some profit booking. BSE Sensex closed at 18113, up 135 points and Nifty at 5441, up 42 points from the previous close. CNX midcap index was up 0.2% and BSE small cap index was up 0.3%. The market breadth was positive with advances at 677 against declines of 597 on the NSE. M&M, BHARTI, JAIPRAKASH, TATASTEEL, TATAMOTORS and GAIL are top gainers while ACC, RELINFRA, MARUTI etc. are top loosers.
The European market indices closed with gains on the back of upbeat corporate earnings. The FTSE, CAC and DAX gained 1.90, 3.05 and 2.53 percents on Thursday. Even US markets were closed in decent green.
FOR TODAY: Nifty touched the upper end of the range 5360-5455. Break-out from the range 5360-5417 has beeb made by Nifty yesterday. SGX Nifty is trading around 5481 indicates follow up of yesterday's buying will be in our market. BUT>>>>>BUT.....As Friday a closing day, only two days are left for RBI meets may show a volatile market.
I may go short around 5488 level with strict stoploss 5504.
Buy TATAMOTORS future @ 837with strict stoploss of 831 for a target of 842 and 850
Buy JPASSO future around 130.55 with strict stoploss 128 for a target of 133.10 and 134
Buy NIFTY above 5460 (you may get it today) with strict stoploss of 5430 for a target of 5490 and 5510
Buy ICICIBANK above or around 910 with strict stoploss of 902 for a target of 918 and 924
