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Intraday Equity Market Trend

Markets opened gap up on the back of positive trend in Crude Oil and strengthened Asian markets also supported the indices in addition of strong opening of the Rupee and short covering in the last hour of trade in few stocks made the indices to stay strong and closer in greener gaining more than 1%. Nifty future could not hold 7200 on closing basis, still second consecutive strong closing may now find 7230 as immediate resistance while 7100 as intraday support for the index.
TREND: SIDEWAYS:
SUPPORT : 7130 & 7080
RESISTANCE: 7230 & 7270
MARKET GOSSIPS:

  • Market climb 1 pct as oil prices rally; Nifty ends above 7150.
  • Oil & Gas stocks rallied; Cairn, ONGC rise 5 percent.
  • BHEL commissions 270 MW thermal units in Punjab; stock tanks.
  • Cipla shares moved higher on the acquisition of two US companies.
  • RPP Infra shares rise as wins new orders worth Rs 59 crore.
  • Dr Reddy’s gains for the second consecutive day after the board approves share buyback plan.

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