It was the historic day for the Nifty in the last trade where new all-time highs were made by the price with decisive move from the lower zones. The index has surpassed sloping trendline breakout zones with strong buying traction in the index heavyweights. The support for the index is around 26200-26240 for the day while 26420 and 26480 remains immediate hurdle. Bank Nifty have been in the driving seat in the markets from last few days and is now trading well above key hurdle of 59800 and closed well above the same. The index was well led by

KOTAKBANK

, ICICIBANK and HDFCBANK and some buying was seen in some PSU pockets as well. The overall trend of the index is good with support placed at 59600 while 60300-60500 remains strong resistance area. The ongoing US-VENEZUELA issue will have some sentimental impact on the markets while material impact is not seen on the overall market moves. Among the sectors –IT , BANKING & AUTO as looking good for the day while METAL stocks may remain buy on dips candidates for the day.

HINDZINC

HINDCOPPER

#Pre-OpeningCommentary#SectorBreakouts#TrendingSectors#WatchOutFor#Today’sTradingSetup

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