GOOD MORNING
NIFTY SPOT
TREND-CONSOLIDATE
RESI 1: 5740
RESI 2: 5780
SUPP 1: 5680
SUPP 2: 5630
STRATEGY: BUY ON DIPS
BANK NIFTY FUTURE
TREND- CONSOLIDATE
RESI 1: 11600
RESI 2: 11750
SUPP 1: 11450
SUPP 2: 11300
STRATEGY: BUY ON DIPS
Indian equity indices managed to extend the current winning streak, belying
expectations of some softening, as FII inflows continued unabated. The Government too
carried forward its reforms agenda by announcing relief package for the debt-ridden
power sector; the rupee rose versus the US dollar to touch a five-month high, while the
stock indices hit 16-month highs. Technically Nifty this week may consolidate although it
is in bull run and may continue the bull run; Nifty this week may range 5530-5880.
India will borrow Rs 2 lakh crore through bonds in the second half of the current fiscal
year, in line with the budget estimate this year.
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