MARKET MOVES :
We had a very bullish move for the Nifty on Monday, as the markets gained 103 points in a day. Hence, for the rest of this week, we made quiet a few bullish moves for our markets, including the bullish move on Wednesday. The markets, thus closed at 5974 levels, (3.68 %) above its previous week''s close. Hence, we have now consecutively closed positive for the past two weeks. The market breadth was also positive throughout the week. We had the BSE CONSUMER DURABLES, BSE REALTY & BSE SMALL CAP Indices making strong moves for the last week.
MARKETS AHEAD :
We can observe for the Nifty on the daily charts, that the markets has a strong resistance at 6000 levels. We can also notice that the markets are trading very close to 6000 levels since the past few trading sessions.Also, the markets have gone up this week with good volumes, which indicates that there is some more upside left for our markets in the short term. Therefore, we can expect our markets to trade in a slightly higher range, between 6000-6200 levels for the short term.
SECTORAL INDICES:
BSE CONSUMER DURABLES (5930)
The BSE CONSUMER DURABLES Sector has closed at 5930 levels this week, which is (10.51%) above its previous week''s close. We can also notice on the daily charts that we have a strong support at 5500 levels, which is unlikely to be tested in the short term. Hence, we expect this sector to move slightly higher to 6200 levels in the short term. We recommend a buy in Videocon Inds. and Gitanjali Gems in this sector.
BSE REALTY (11577)
The BSE REALTY index has closed at 11577 levels this week, which is (8.94%) above its previous weeks close. We can also notice on the daily charts that we have a strong support at 10800 levels, which should hold in the short term. Hence, we can now expect this index to move slightly higher to 11900 levels in the short term. We recommend a buy in Omaxe Ltd. and Mahindra Lifespace Developers in this sector.
BSE SMALL CAP (11224)
The BSE SMALL CAP Sector has closed at 11224 levels this week, which is (6.64%) above its previous week''s close. We can also notice on the daily charts that we have a strong support at 10900 levels, which is unlikely to be tested in the short term. Hence, we expect this sector to move slightly higher to 11500 levels in the short term. We recommend a buy in Lloyd Steel and Piramyd Retail in this sector.
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