AFTER OSCILLATING BETWEEN THE POSITIVE AND NEGATIVE TERRITORY FOR MOST PART OF THE SESSION, KEY STOCK BENCHMARK INDICES ENDED OVER HALF A PER CENT HIGHER ON TUESDAY, THANKS TO BUYING IN THE LAST HOUR OF THE TRADE. THE S&P BSE SENSEX ADDED 238 POINTS OR 0.62 PER CENT TO END AT 38,939. DURING THE TRADE, THE INDEX HIT A HIGH AND LOW OF 38,978.99 AND 38,598.72, RESPECTIVELY. ICICI BANK, ITC, AXIS BANK, HDFC, YES BANK AND TCS WERE THE MAJOR CONTRIBUTORS TO THE SENSEX’S GAIN. IN THE BROADER MARKET, THE S&P BSE MIDCAP INDEX ENDED AT 15,420.48, UP 23 POINTS OR 0.15 PER CENT WHILE THE S&P BSE SMALLCAP INDEX ENDED 15 POINTS OR 0.10 PER CENT LOWER AT 14,972.
During the day nifty has traded on a positive note and close at 11671. On a daily chart nifty is looking to take some more upside in coming days as stochastic has also given sell signal as we can see on the charts. Nifty is likely to test 11800 level .
Intraday resistance for nifty would be 11713 and 11755 and support is 11599 11577.
Our recommendation is to Buy Nifty on dips and hold it for a level of 11800.
Stock Trading Tips
BUY ADANIPORTS ABOVE 381 TG 385/390 SL 375
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BUY TECH M FUTURE ABOVE 793 TG 797/782 SL 788
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