After a positive opening weak IIP numbers put pressure on Indian indices, and after a volatile session market ended at positive note. Sensex closed at 17195, up 54 points and Nifty at 5156, up 20 points from the previous close.
Market closed in positive but The market breadth closed negative with advances at 515 against declines of 754 on the NSE.
The US market closed in Positive terrain, The Dow jones closed at 10896.91, up by 148.65 points, Nasdaq closed at 2425.02, up by 49.71 points and S&P 500 closed at 1171.67, up by 15.88 points from its previous close.
The Asian market trade in positive.
Today we expect positive opening on the back of Positive Global cues.
Indian Indices are still in fear of global economy, for now Nifty may take resistance around 5180-5220 levels, and at down side support levels are 5120-5080. Traders are suggested to trade with discipline. PHARMA STOCKS and BANKING STOCKS may trade positive while STEEL SECTOR may remain weak.
Stock for watch:
JUBLIANT ORGANOSYS LTD.: Buy around 359-365 sl below 349 for tgt 410 in short term.
High Rsik players can Buy Axis bank around 1285-1290 with sl below 1270 for tgt 1320-1335 in near term.
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