FUTURE :
“BUY BHARTIARTL
ABOVE 353 TGT 358/365”
“SELL BHARTIARTL
BELOW 347 TGT 341/335”
DAILY CHART FOR BHARTIARTL
The Nifty 50 futures contract
has surged after opening with a huge gap-up. The downside pressure has eased Sensex ended with a gain of 576 points at 25,881. The Sensex opened at 25,432 touched an intra-day
high of 25,897 and low of 25,431.The Nifty closed with a gain of 186
points at 7,935. The Nifty opened at
7,812 hitting a high of 7,938 and low of 7,809. If the Nifty is able to break above 7,900 - 8,000 levels on the back of
string global and domestic triggers, the market rally will continue and can
take the Nifty around 5% - 7% higher from here on. However, one still needs to
remain cautious as all these events, including the progress of monsoon in June. Technically,
the markets are factoring in a favourable outcome for now and suggest that the
markets are taking the possibility of a rate hike in June. A
breakout on either side of this range will decide the next trend. Within the
range the immediate outlook is positive. Traders with a short-term perspective
can go long. Stop-loss can be kept at 7,840-20 for the target of 8000. looks
likely in the coming sessions. Intraday supports are at 7,850 and 7,820. Besides, volatility will be seen
tomorrow on expiry ,the bourses as traders will roll over positions in the
futures & options segment from the near-month May series to June series.
TOP GAINERS:
ICICI Bank, HDFC, Maruti Suzuki, SBI, Tata Motors,
Axis Bank and TCS
TOP
LOSERS: Cipla, Coal India, GSFC, Amara Raja
Battery, Bajaj Finance ,Redington India
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