Market Magnify :- Stock Market Commentary
Equity benchmark indices open last day of the week on positive note and traded in a bullish trend for the rest of the day. Benchmark indices ended the week on strong note after RBI monetary policy changes the trend of the market. Sensex closed at 33250.30 up by 301.09 points at 32832.94 and Nifty future closed 87.05 points up at 10290.
Only Media and PSU bank ended in red and rest of the indices closed in green today in which FMCG gained most by 2.36%
HPCL, ITC and BPCL were the top gainers, while Bharti Infratel, GAIL and Zeel and Coal India lost the most.
As we said in our Nifty future report downward movement of nifty future will not last long and market will began its bull run soon. Equity indices have given very strong closing this week and which will be continuing till next week. On Monday market will be in bullish trend and major resistance level which nifty future have to face is around 10360-10380 which will be crucial for market. we like to advise traders and investors to remain in bullish trend and to follow buy on dips strategy and be stock specific and to do proper study before investing.
RESISTANCE & SUPPORT LEVELS -:
Support of Nifty future is placed at 10210 and 10070.
Resistance of Nifty future is placed at 10380 and 10440.
Support of Bank Nifty future is placed at 25220 and 25950.
Resistance of Bank Nifty future is placed at 25400 and 25660.