Markets continued to be volatile. Markets continued to swing from the high of almost 150 points and dropping down to almost zero levels. But closed marginally higher in green. Indices gained around 0.50% on one day prior to the monthly expiry of the F&O. Volumes were pretty good above 1 lakh Cr. Mid cap continued its unstoppable rally. Reliance Ind and the major IT stocks helped the rally. But the sell off in the other heavyweight stocks like ONGC, HUL, HDFC Bank, Bharti, ITC, Hero Honda capped the rally.
Nifty made an intraday high of 4697.80 and closed at 4677.90. Selling pressure continued to put pressure. Sell off kept Nifty off the track and Nifty could not close above 4700 levels. Rolls have been pretty good in the markets. More over there are long rollovers happening in the markets. As stated in the earlier blog also that the Nifty will continue to face resistance at 4700 levels. If Nifty closes above 4700 levels then we might new high above 4800.
Yesterdays call Satyam continued to rock and closed above at 110.30 after making an intraday high of 111.95.
Karutari Global closed above 16. BUY Tata Steel above 470.
BUY Abb with SL of 730.