EXPECTING GOOD
VOLATILITY IN TOMORROW TRADING SESSION DUE TO GUJRAT EXIT POLLS.. TO GET LIVE CALLS PLEASE
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The Sensex ended the session higher by nearly 200
points on fag-end buying as investors turned their attention toward exit poll
results for Gujarat Assembly elections. The Sensex bounced back in
the last one hour of the session to hit a high of 33321 before closing up 193
points at 33246. The gauge had lost 402 points in the previous two sessions due
to grim economic data and the lowering of economic growth forecast by
the Asian Development Bank. Similarly, in a range-bound movement, the Nifty
settled higher by 59 points at 10252. Intra-day, it shuttled between 10276 and
10141. Strengthening of rupee against the dollar also supported the domestic
sentiment. Among BSE sectoral indices, oil & gas index gained the most by
0.99 %, followed by FMCG 0.69 %, banking 0.67 % and healthcare 0.63 %. On the
other hand, consumer durables index was down 0.61 %, infrastructure 0.11 %, and
IT 0.04 %.
Top five Sensex gainers were Dr Reddy's (+2.34%),
Cipla (+2.22%), ITC (+1.87%), M&M (+1.36%), and Axis Bank (+1.24%), while
the major losers were TCS (-2.62%), Sun Pharma (-0.48%), PowerGrid (-0.37%) and
L&T (-0.01%).
On the upside, the Nifty has
significant resistances at 10340 and 10375 levels. A conclusive rally above the
second resistance is needed to strengthen the bullish momentum and take the
contract up to 10400 and 10450 in the same period. Therefore, traders with a
short-term perspective should desist from trading in the index futures contract
as long as it trades in the sideways band between 10200 and 10300.
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Supports: 10200 and 10150
Resistances: 10335 and 10375
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