Nifty have given breakout in the last trade and is now hovering around the major weekly resistance zones of 26000-26050 which also coincides with the 50-DMA on the charts. The sentiment has turned good after the US-INDIA trade deal in the last trade a buy on dips strategy will be applicable in the today’s trade. The resistance for the index is around 26000 on the higher side while 25700 is the short-term demand zone. Bank Nifty also have given good move in the last trade and is now trading around 60100 on the daily charts. The immediate support for the index is around 59700 while 60500 is the strong hurdle for the day. The overall trend of the index is bullish till it is not drifting below 59700 levels. Among the sectors – IT & MID CAP IT stocks may remain under pressure tracking negative cues from the US markets while Banking and Auto stocks will be good buy in dips candidates. Results for the day:

ASTRAL

BHARTIARTL

GODREJPROP

HEROMOTOCO

HINDCOPPER IOC KAYNES LICI NCC PAGEIND PFC RVNL

UNOMINDA

#Pre-OpeningCommentary#IndexStrategies#Today’sTradingSetup#StockInNews#EquityResearch

675 likes·71 comments