An equity index continues to trade strong on Wednesday and closes at record closing as Sensex closes 387.14 points up at 33600.27 and Nifty future closes up 108.80 points at 10477.30.As we suggested breakout of bank nifty future will be considered above 25100 levels. After 10.30 markets continue to trade strong but consolidates in a range after The World Bank raised India ranking to 100th place in ease of doing business from 130th place and also earning season continued to shake up sentiments of market. Reality sector again added over 2.50% on Wednesday as well and on the down side media sector drag by 0.50%.
Bharti Airtel, Sbi and Icici Bank are the top gainers today and Eicher motors, Bharti Infratel and Dr. Reddy are on the losing side.
On Thursday market is expected to be volatile as investors will react on the outcome of FOMC’s policy statement and more corporate earnings to come. Sell on high is the strategy to work on Thursday and as market is stock specific so traders are advised to analyse each stock before investing.
Resistance & Support -
Support of Nifty future is placed at 10445 and 10370.
Resistance of Nifty future is placed at 10500 and 10620.
Support of Bank Nifty future is placed at 25480 and 25340.
Resistance of Bank Nifty future is placed at 25640 and 25950.
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