Indian Market settle higher amid positive global cues - Nirmal Bang

Indian market settled sharply higher on Thursday amid positive global cues. The market remained buoyant despite derivatives expiry. Auto, HC and oil & gas stocks led the rise. At the close, the benchmark 30-share index, BSE Sensex gained 227.49 or 1.19% at 19,406.85. Meanwhile, the broad based NSE Nifty climbed by 79.40 points or 1.36% at 5,916.30.

Nifty has managed has surpassed above the crucial hurdles of 5,900 which is a bullish signal. The index has strong support at 5,830-5,790 levels on the downside. There is an immediate resistance at 5,940 levels on the upside and on a decisive close above expect rise to 5,980 & 6,050 levels.

Action: Nifty has an immediate resistance at 5,940 and on a decisive close above expect rise to 6,050 levels

Bank Nifty faces immediate resistance around the 12,780 levels on the upside and on a decisive close above expect rise to 12,880 & 12,950 levels. There is an Immediate Support at 12,600 levels on the downside.

Source : Equity Bulls

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