Mkts remain in positive terrain
Mkts display positive short-term texture; For traders now, 65,200-65,000 would act as key support zone, while 65,700-65,900 could be key resistance area; On other side, below 65,000pts traders may prefer exit from trading long positions
image for illustrative purpose
The benchmark indices continued the positive momentum for 6th day in a row, as benchmarks indices NSE Nifty ends 66 points higher, and 30-share index BSE Sensex was up by 274 points. Among Sectors, PSU Banks and IT indices outperformed, both the indices rallied over one per cent, whereas Oil & Gas stocks witnessed intraday profit booking at higher levels.
“Technically, markets witnessed robust uptrend rally on Tuesday, it opened with a gap-up, but after a strong opening the index witnessed range-bound activity at higher levels,” says Shrikant Chauhan of Kotak Securities.
However, the short-term texture of the market is still in to the positive side. For the trend, following traders now 65,200-65,000 would act as key support zones, while 65,700-65,900 could be the key resistance areas for the index. On the other side, below 65,000pts traders may prefer to exit out from trading long positions.
