Market toches lifetime high of 9896 - Shrikant Chouhan, Head-Technical Research, Kotak Securities

"The market has touched a lifetime high of 9896 with a broad-based participation from almost all major sectors. Volumes were also under control and the advance decline was close to 1:1, which is bullish for the market and should take Nifty beyond the magic mark of 10k very soon.

As the market is approaching bigger psychological mark, our advice for to traders is to be quick while taking profits and investors should look at consolidating portfolios or park funds only in top companies. Technically Nifty would face resistance at 9970 and at 10150. On the downside, till the market is not breaking 9700 trend would remain strong.

RBI rate cut and earnings season holds cues for the markets. Inflation has hit a record low, which has shifted the focus back to RBI for a possible rate cut. If the RBI bites the rate bait, it could augur well for the markets".

Source : Equity Bulls

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