Nifty Crosses 6000 Mark After A Quarter Periods

Key Indices

Bse Sensex Major Resistance on Upside at 20916-21185-21453

Bse Sensex Major Support on Downside at 20200-19753-19484

Trend Deciding Level for Bse Index at 20469

Nifty Spot Major Resistance on Upside at 6206-6295-6384

Nifty Spot Major Support on Downside at 5964-5811-5722

Trend Deciding Level for Nifty Spot at 6053

Corporate Highlights

  • SBI decides to revise rates upwards; hikes base rate by 10 bps to 9.8%
  • Yes Bank gains 60 percent in the last 11 trading sessions
  • Ashoka Buildcon JV signs concession agreement with TN govt for road project
  • YC Deveshwar sells 10.8 lakh shares in ITC on Sept 11-12
  • Rupee ends at 61.77/USD vs 63.38/USD on Wednesday

Market Weekly Round Up

  • The Nifty spot closed in the positive note yesterday, up by 216 points at 6115. In excess of the next couple of days it is expected to trend up till 6180. In this epoch the key support will be near 6045 and resistance will be at 6142.
  • The Nifty has been forming higher tops and higher bottoms of tardy. It has also taken support at a downward sloping trend line on the daily chart which will act as a very vital support, ie 5800. The short-term preconception for the Nifty remains positive for a target of 6230 with reversal around 5780. The medium-term outlook remains positive because the Nifty has retraced 61.8 percent of the previous rally from 4770 to 6229 and is trading above the Twenty-weekly moving average (WMA) and the Forty-WMA, ie 5820 and 5744 respectively. The momentum indicator on the daily and the weekly chart has also given a positive crossover with a positive divergence.
  • Laying on the daily chart the index is trading above the Twenty-daily moving average (DMA) and the Forty-DMA, ie 5631 and 5706 respectively. The momentum indicator is trading in positive mode.
  • Going on the hourly chart, the Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 5937 and 5908 respectively, which are crucial intra-day levels. The hourly momentum indicators have turned positive. The market breadth was positive today with 833 advances and 347 declines on the National Stock Exchange {NSE}.
  • Nse Nifty Fut Major Resistance on Upside at 6188-6233-6278
  • Nse Nifty Fut Major Support on Downside is at 6085-6027-5982
  • Trend Deciding Level for Nifty Fut at 6130
  • Nse Bank Nifty Fut Major Resistance on Upside at 11351-11500-11649
  • Nse Bank Nifty Fut Major Support on Downside at 10989-10776-10627
  • Trend Deciding Level for Bank Nifty Fut at 11138
  • 5 Daily Moving Average @ 5911
  • 50 Daily Moving Average @ 5718
  • 200 Daily Moving Average @ 5840
  • 5 Days Relative Strength Index @ 88 and 14 Days Relative Strength Index @ 69 INDICATES NIFTY PLACED IN BULLISH ZONE, WITH BULLISH MOMENT

Today Intraday Stock Tips

Buy Nifty Fut Nse Sep Above 6160 sl 6135 Tgt 6185-6210 {Or} Sell Nifty Fut Nse Sep Below 6110 sl 6130 Tgt 6085-6060

Buy Bank Nifty Fut Nse Sep Above 11250 sl 11200 Tgt 11300-11350 {Or} Sell Bank Nifty Fut Nse Sep Below 11150 sl 11200 Tgt 11100-11050

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