We saw that the Nifty opened flat at 5062 levels in the morning session. After that, the markets slowly moved up to 5120 levels. There after, the afternoon session saw some sideways movements for the markets and the markets were trading in the 5120- 5150 levels. But, the afternoon session saw the markets making a dynamic move and the markets touched 5280 levels. Ultimately, the Nifty closed very strong for the day at 5327, (+4.76%) above its previous close. The advance: decline ratio was also very positively biased at 891:251.

The American markets have close very strong. The Asian Indices are trading at higher levels. We can expect a strong opening for our markets. After that the afternoon session can see some more follow up buying coming in and the markets will test the 4450 levels. Hence, we expect to close very strong at the end of the day. We can see that the markets has given a breakout above its previous resistance at 5260 today. We have also formed a candlestick pattern today known as ''Bullish engulfing pattern'' which indicates that there is still some more further upside for the market in the coming days. Hence, we expect the markets to touch 5500 levels in the short term.

We can see that this sector has closed very strong at 10435 levels today, which is (+6.51%) above its previous close. We, also noticed that the sector has breached its upside resistance today at 10250 levels convincingly. We expect this sector to move towards 10750 levels in the short term. We like Bharat Petro and GAIL in this sector .

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