Get an idea about today’s SENSEX and NIFTY

Everyone wants to know about markets and most of us are so curious that we want to know the road ahead for the markets before investing our money into it. So here is a brief report about the road ahead for the SENSEX and the NIFTY.

SENSEX:

The SENSEX has witnessed a minor pullback during yesterday’s session. We believe that any dips towards the 20700 levels should be viewed as a good buying opportunity. Sustenance above the 20700 levels or above its near term EMA will see the index heading towards the 21200 levels. We expect the SENSEX to trade broadly in a range of 20700—21200 levels. A break below this level will trigger a pullback to the 20500 levels.

The IT, Consumer durables and Banking indices closed the session with cuts of over 1%. The Health care index closed the session with a gain of 0.65%.

We had recommended buying Prism Cement at `59.50 to the subscribers of our product Delivery calls section. The stock saw a smart rally during yesterday’s session of trade to register a high of `64.40. We   booked part profits at `64 levels, generating a handsome return of 7.5% to our clients.  We are still bullish on Prism and holding our positions for the target of `69/70 levels.

Today’s supports for the SENSEX are placed at the 20750 and 20600 levels whereas resistances are placed at the 21000 and 21200 levels.

NIFTY:

The NIFTY has witnessed a minor pullback during yesterday’s session. We believe that any dips towards the 6230–6200 levels should be viewed as a good buying opportunity. Sustenance above the 6200 levels or above its near term EMA will see the index heading towards the 6350 levels. We expect the NIFTY to trade broadly in a range of 6250—6350 levels. A break below this level will trigger a pullback to the 6150–6180 levels.

We had recommended buying Pun Lloyd to our clients in our product Equity Intraday stock calls section at `128.10 levels. We booked full profits at `130.40 levels fetching a profit of `4600/- per lot to our subscribers of the above product.

We recommend subscribing to our Product Equity Intraday stock Calls section to avail more profitable trading calls.

Today’s supports for the NIFTY are placed at the 6200 and 6230 levels whereas resistances are placed at the 6350 and 6375 levels.

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