Nifty has support at 2770: Reliance Money

According to Reliance Money’s Morning Notes report, as for today’s trade once again levels of 2850 remains an important hurdle while on lower side levels of 2770 continues to remain important support.

Reliance Money’s Morning Notes report:

Finally key benchmark indices succeeded in closing above psychological mark of 2800 for NIFTY and 9000 for SENSEX. However main test still awaits at 2850 on closing basis. Technical momentum continued in illiquid counters once again in yesterday’s trade with MINDTREE gaining 32.55% while FSL rose by 16.53% amongst F&O stocks. On other hand BSE CG & BSE AUTO stocks remained lacklustre and witnessed sell-off. In last one hour we witnessed some smart buying in ‘private’ Banks. Once again market breadth remained positive with FII remaining net buyer.

On technical basis, NIFTY though closed above 2800 mark it still needs to cross important hurdle of 2850 levels. In past four session of an up move, clearly BSE Reality and BSE Metal emerged as strong gainers however are now trading close to their important hurdles. As for today’s trade once again levels of 2850 remains an important hurdle while on lower side levels of 2770 continues to remain important support.

Tags: calls, daytrading, free calls, intraday, tips

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