India's Futures and Stock markets jumped on Monday, its biggest daily percentage gain in more than a year, encouraged by strong trading in shares of banks and miners after a selloff last week. The Bombay Stock Exchange Sensex closes at 23554 were power up by 568 points or drive up by 2.47 percent. Nse Nifty Closes at 7163 were rinse by 182 points or plant slide hush up by 2.61 percent. The S&P BSE Midcap settling at 9949, up by 334 points or by 3.47 percent, while S&P BSE Small cap superior at 10006 ended high 324 points, or 3.35 percent each in today Intraday Share Market Trading.
Sensex Major Resistance on Upside at 23786-24017-24249
Sensex Major Support on Downside at 23157-22759-22528
Trend Deciding Level at 23388
Nifty Index Major Resistance on Upside at 7233-7302-7372
Nifty Index Major Support on Downside at 7043-6922-6853
Trend Deciding Level at 7112
Major Headlines
Bank of Baroda Bounce Back the Stock closes at 140 on the NSE
NMDC Spurts up on hefty dividend the stock shot up to an intraday high at 92.75
Biocon in the fame today stock zoomed to an intraday high at 474 and settled at 2.78%
Nifty Indices
The Nifty closed at 7163 around 2.61% in the green. The index has formed a 3 wave rise in wave 4 and so we expect the next leg on the down side. The momentum indicators on the hourly charts are in the buy mode so we expect it to bounce and face resistance at the higher level of 7190, which is the 38.2% retracement level of the fall from 7600 to 6869. However, on the higher side 7208 will act as crucial resistance in the short term. As the momentum indicators on the daily charts are in the sell mode, we expect it to move to the lower level which is our short-term target of 6793 and below which we can achieve our medium-term target.
The Bank Nifty closed in the green by 3.39%. The index has formed a bullish belt hold candle pattern on the daily charts which has bullish implications which is supporting the bounce. The momentum indicators on the hourly charts are in the buy mode so the bounce back can face resistance at 14550 and 14740. Going forward, the supports on the lower side are at 14120 and 13810. As the momentum indicators on the daily charts are in the sell mode, we have maintained our short and medium term trend on the downside. We can use the bounce as a selling opportunity..
In the daily chart the index is trading below the Twenty-day moving averages (DMA) and the Forty-DMA, ie 7346 and 7481 respectively. The thrust indicator is trading in negative sort on the daily chart
In the hourly chart, Nifty is trading between the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 7063 and 7175 correspondingly, the hourly impetus indicator encompass turned positive
The market duration was turned positive with 1329 advances and 232 declines, Unchanged 45 Total Issue 1606 on the National Stock Exchange.
Nifty Future Major Resistance on Upside at 7216-7273-7331
Nifty Future Major Support on Downside is at 7080-7001-6944
Trend Deciding Level at 7137
Bank Nifty Major Resistance on Upside at 14615-14810-15006
Bank Nifty Major Support on Downside at 14147-13874-13679
Trend Deciding Level is at 14342
30 Days Simple Moving Averages @ 7435
50 Days Simple Moving Averages @ 7578
150 Days Moving Averages @ 7940
200 Days Simple Moving Averages @ 8023
Buy Nifty Fut above 7162 sl 7140 Tgt 7179-7200 {Or} Sell Below 7140 sl 7162 Tgt 7123-7102
Sell Bank Nifty Fut below 14400 sl 14455 Tgt 14370-14347
Curious Fact
When A Person Cries and the First Drop of Tears Comes from Right Eye, It's Happiness, When It's From The Left, It's Pain.
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