Nifty stunned everyone by its final hour move with bank nifty leading the party. I always used to say think different and win the markets, as many laud for bears market turned for other side. Bank and IT index lead the markets in all way supported by Europe and US futures which traded on higher note in afternoon session. AD ratio was positive with advance 733 and decline 547 of total 1280 stocks traded. Nifty fut made a low of 4786 zone and hit 4890 as high with a 100 point swing. US and Europe closed positive. Asian markets trading positive.Chinese markets closed for the whole week. so lets see some levels to watch today.
Nifty took a support @ 4786 and hit all upper targets which we mentioned yesterday. Positive divergence on daily charts working well.Nifty closed above the Important Fibonacci level 4830 which have been resisted for last 6 sessions. With a view of Fibonacci it looks 4922 and 5010 will hit. Nifty spot supp pegged @ 4811 breaching that will show 4794/4710 and resistance pegged @ 4886 breaking that will show 4898/4945. Ranbaxy was the top mover with 7.2 % upside where Bharti sinks 4.2 % downside.Bullish gartley pattern in Hindustan unilever played well, moved up 3.22%. SBIN looks hot and likely to cross 2000, 2100 and 2200 in coming days with supp @ 1883. Ahemadnagar forge , VIP ind , Raymond ind looks good in small cap today.
NIFTY FUT BREAKOUT LEVELS 4804 AND 4910
Happy trading!!!!!!!!!!
Jay
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