Good closing for the market and surprisingly so. One would have thought that the market might just be little tentative because it was the last hour of trade before going in for an important event but the market seemed quite confident and that’s interesting.
The morning was a far more tentative we just about pottered around in the first half of the day doing nothing it looked like that would truly be how the day would close. But in the second half of the day, the market picked up.
Europe opened up pretty okay. The Dow futures were fine and while Asia was a bit of mixed bag today some how the sense for Indian traders seem to be that nothing would be too bad overnight and we’d come back without getting terribly ruffled tomorrow morning to trade. So we've gone in pretty strong into that important event and the way the Nifty futures moved into a bit of premium suggesting that the tilt of the market is long rather than short and maybe some of the shorts would have closed down their positions as well today.
So net result 160-points rally quite surprising after how the first half paned out and the Nifty too has managed a very very interesting close of nearly 50-odd points up.
The morning was a far more tentative we just about pottered around in the first half of the day doing nothing it looked like that would truly be how the day would close. But in the second half of the day, the market picked up.
Europe opened up pretty okay. The Dow futures were fine and while Asia was a bit of mixed bag today some how the sense for Indian traders seem to be that nothing would be too bad overnight and we’d come back without getting terribly ruffled tomorrow morning to trade. So we've gone in pretty strong into that important event and the way the Nifty futures moved into a bit of premium suggesting that the tilt of the market is long rather than short and maybe some of the shorts would have closed down their positions as well today.
So net result 160-points rally quite surprising after how the first half paned out and the Nifty too has managed a very very interesting close of nearly 50-odd points up.
Nifty has a Support at 4514 and 4460 .Also Nifty have resistance at 4586 and 4614.
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