MARKET WRAP
Sensex raised 0.72% @ 19,152.41 pts; Nifty gained 0.62%@ 5,796.90 pts.
European major indices FTSE& CAC was up 1.15%; DAX was down 1.15%;
NASDAQ was up by 0.43% while Dow Jones Ind. Avg. was up by 0.84%.
MARKET WAS IN GREEN MODE YESTERDAY TODAY WE EXPECT TO BE IN BEARISH MODE. THE NIFTY AND BANK NIFTY TRENDS FOR THE INTRADAY SEEMS TO BE IN BEARISH MODE WE EXPECT NIFTY TO TOUCH 5740 AND IF IT BREAKS FURTHER IT WILL MOVE TO 5680 FOR BANK NIFTY THE EXPECTED LEVEL DOWNSIDE IS 11660.
NIFTY OUTLOOK
Trend: - BEARISH
Resistance: - 5850, 5900
Support: - 5740, 5680
Strategy: - Buy on Dips
BANK NIFTY OUTLOOK
Trend: - BEARISH
Resistance: -12000, 12150
Support: -11800, 11660
Strategy: - Buy on Dips
Sensex gained 137.27@19,152.41; Nifty raised 35.55pts@5,796.90. Market showed two way movements & gained at last after announcement of Economic Survey for the current fiscal, WPI inflation is seen declining to 6.2-6.6 percent by March, which could create more room for rate cuts going ahead. ICICI Bank up over 2% while SBI was up 1.2 %.
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