Yesterday the market saw a good run-up on the expiry day of the F&O May series and in all on the back of positive global cues Indian Indices closed in positive note. Sensex closed at 16666, up 278 points and Nifty closed above the psychological resistance of 5000 mark, at 5003, up 85 points from the previous close.
The US market closed around days high, The Dow jones closed at 10258.99, up by 284.54 points, Nasdaq closed at 2277.68, up by 81.80 points, S&P500 closed at 1103.06, up by 35.11 points from the previous close.
The Asian market are trading with positive note.
Today's market may open at higher levels on the back of Strong global cues as the US market closed at day's high & Asian markets are trading at higher. In Nifty 5075 and 5115 may react as a resistance, while down side it may take support around 4950-4970. Traders are suggested to buy at declines. BANKING and AUTO STOCKS are expected to attract major buying interest. Heavy weight like Reliance Industries to breakout of the range for market strength, till than market may move in range bound. Metals and Banking stocks looking good for short to medium term.
Stock for Watch:
Bank of Baroda: Above 720 if sustain then can touch 735-740 in near term.
ITC: If sustain above 275 then can touch 285-290 in short term.
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