Yesterday: Indian Stock Market opened flat and consolidated in the morning but again RIL; SBI & Auto led the market and closed nearer to a level of 16000. Yesterday RIL went nearly 3.5% even after its poor results. This up move in RIL was mainly due to one European FII who increased it’s holding in the company but that’s how the market reacts when bull takes the charge.
Today: Indian Stock Market is expected to open positive due to positive global cues but now nifty will enter into its next resistance zone of 4750-4777. So we would suggest to book profits for your portfolio, sit aside and wait for the correction or next technical breakout. So be Patient.
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BSE Sensex: (15924 ) The support for the Sensex is 15 5 00 and the resistance to the up move is at 16060.
NSE Nifty: (4711 ) The support for the Nifty is at 4650 and the resistance to the up move is at 4750-4777.
F&O Cues: FII were net buyers of 358 crore in Index Future and buyers of 67 crore in stock futures.