A LAST HOUR SURGE LED BY GAINS IN FINANCIALS AND IT STOCKS HELPED THE BENCHMARK INDICES SNAP THEIR 3-DAY LOSING STREAK AND CLOSE WEDNESDAY’S SESSION AT DAY’S HIGH. THE BSE SENSEX ENDED THE DAY AT 39,055, UP 490 POINTS, OR 1.27 PER CENT, WITH THE HIGHEST GAINS IN HCL TECH, ONGC, INDUSIND BANK, YES BANK AND BHARTI AIRTEL. OUT OF 30 COMPONENTS, 23 SCRIPS ENDED IN THE GREEN AND REST SEVEN IN THE RED. BROADER INDEX NIFTY50 SURGED 150 POINTS TO CLOSE AT 11,726. ABOUT 1,232 SHARES ADVANCED WHILE 1,237 SHARES DECLINED, AND 157 SHARES REMAINED UNCHANGED.
During the day nifty has traded on a positive note and close at 11726. On a daily chart nifty is looking to take some more upside in coming days as stochastic has also given buy signal as we can see on the charts. Nifty is likely to test 11900 level .
Intraday resistance for nifty would be 11701 and 11801 and support is 11539 11447.
Our recommendation is to buy Nifty above support level and hold it for a level of 11900.
DAILY STOCK RECOMMENDATION
BUY SBILIFE ABOVE 611 TG 618/624 SL 602
BUY MAHLOG ABOVE 540 TG 546/552 SL 532
BUY ONGC FUTURE ABOVE 169 TG 172/175 SL 166