NIFTY ENDS ABOVE 10,250; RALLY DOES NOT END HERE

As predicted by us in our last post a loud roar was of bulls was seen in today’s market. They managed to pull nifty above the levels 10120 of support level. But the rally does not end here we will see a full action of bulls in tomorrow trading session and also nifty may see trading at the level of 10300,10350.

The indices extended gains to settle higher on Thursday thanks to a rally in index heavyweights Infosys, State Bank of India, Reliance Industries, and TCS. The Sensex staged a strong comeback to reclaim the key 33,000-mark.The Sensex reversed its three-session losing spell. The Sensex opened to hit the day’s high of 33,165 before settling up 346 points, or 1.06%, at 33,106. And Also, the Nifty closed at 10,263, a heavy gain of 96 points, or 0.96%, after touching a high of 10,264 and a low of 10,162. Both the indices recorded single-biggest gains since 1 November.

                              Nifty has sawed a strong support today at the level of 10160 at 50 EMA and for tomorrow,  22 EMA will see a strong resistance level of 10280. It is likely to continue the positive movement with the breakout of the levels of 10280; as the nifty is managing to trade above its 22 &55 days moving averages with the RSI of 50, one may expect the targets of 10300/10350 if Nifty manages to sustain above the immediate strong support level of 10200.