Nifty index closed at 5040.00 with the gain of 292.20 or 6.15 %. The Nifty Sept future finally settles at 285.40 pts or 6.01 % higher at 5034.10 and decreased 1,659,450 shares in the open interest. The Nifty future premium turned to the discount of 6.90 from the premium of 1.10 whereas cost of carry is -42.04 vs. 35.48. Nifty future has closed at 5034.10 and now next logical resistance is at 5140 and 5233 levels, and good support near 4920 and 4800 levels.
Hot Stocks-
Bharti Airtel-
Technical Overview: -
The stock is currently facing a consolidation phase. Its next major support is at 390, breach of this level may continue its bearish trend while it has resistance at 415. One could go for sell on rise strategy in the stock.
Resistance : 415
support : 390
Hero Motocorp
Technical Overview: -
The stock showed an up move during the week and closed on positive note. The stock is now facing resistance at 2238 which is all time high of the stock and has support at 2160. As the stock closed on positive note a further up movement can be seen in the stock once it breaks its resistance. One may go for buying the stock once it breaks its resistance level.
Resistance : 2238
Support : 2160
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