Yesterday markets closed in red, but bounced back sharply the next day. Sensex and Nifty both surged more than 1%. Markets opened up week, but bounced back smartly even after the fall witnessed in the Indian markets. Yesterday’s fall was on back of fall in the Chinese markets. Nifty in the early trading hours made a low of 4474.50 but closed near its day high at 4570.60. Nifty was up 57.95% or 1.28%. Todays rally should continue for tommorrow also. According to me Nifty will bounce back again tom. and might close above 4600 levels.Sensex closed at 15387.96 up by 214.50 points. Sensex made a low of 15065. Markets surged the most in the latter half. Through the day Sensex was up nearly 100 points. Buying in IT, Steel, Oil and power lead the markets rally. But some of the heavyweights saw some selling pressure too, stocks like RIL, Bhel. In the trading hours I had given call to short RIL at 1920 levels, as it was looking week, the stocks tumbled down to make a low of 1890 in BSE.
Volumes due to the rolls were on the higher side. Nifty is still trading between the 2 parallel trendline. As mentioned in my earlier article also that, for further upside move then the nifty should close above 4600 levels.
Some buy calls given
Tata Steel at 436, made a high of 457.30.
Yesterday had given call on TCS at 480 made a high of 530 today.
BUY TATA STEEL, ICICI BANK, TCS, SBI
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