NIFTY went 66.85 higher to end the day at 5282. The
trending profile of the Index is getting better as it closed above the one
month resistance level at 5250. Now we expect the Index to test its major
resistance levels at 5300 and 5350. A close above 5350 will be a major positive
trigger. Near term support is at 5250.
Major gainer was RELIANCE. The stock went up 5.86%
to end the day at Rs 786.05. As indicated in our earlier post (click here to
read the same), the stock is looking set to go beyond Rs 800 level in the next
couple of weeks.
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