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The benchmark indices ended
at their record highs on Thursday on expiry of July Futures and Options
(F&O) contracts.The S&P BSE Sensex that breached 37,000
mark for the first time ever to hit an intra-day high of 37,027 levels, ended a
tad lower at 36,985 levels, up 126 points. The broader Nifty50 index settled at
11,167, up 35 points. The 50-share index had surged to a high of 11,185 levels
in intra-day deals. Analysts at HDFC Securities expect the Nifty o
move higher in the August series. Investors, who were shunning small-cap stocks on
fears that the Index may fall, they say, are now likely to be more confident of
the moves of the broader indices and start investing in the small-and
mid-cap stocks."Once the Nifty closes above the 11,171
mark, expect this to become the new support level for the index. The next
resistance could come in at 11395 – 11,400 levels, a 100% extension level of
swing seen from 9,952 (bottom of March 23) to 10,929 (top of May 15) and from
10,929 to 10,417 (bottom of May 23).
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