Equities opened with positive bias Tuesday due to lack of cues from global peers. Indices are likely to move in a narrow range as session
“While China, Honkong, Taiwan, Singapore are shut today as well on account of Chinese New Year holiday, Japan and Korean markets are up around half a percent and so is SGX Nifty. Yesterday’s high, 4845, remains the immediate support, a crossover of which will open the space till 4950, while on the downside 4675 is a crucial support,” said Anagram Stock Broking note.
At 9:20 am, Bombay Stock Exchange’s Sensex was at 16068.77, up 30.42 points or 0.19 per cent. The index touched a high of 16135.99 and low of 16042.18 in early trade.
National Stock Exchange’s Nifty was at 4807.45, up 5.5 points or 0.11 per cent. The broader index hit a high of 4823.25 and low of 4796.40 in trade so far.
“Nifty is moving up in a small upward moving rising channel after the sharp fall of 3 weeks. As long as the channel holds, upmove is likely to continue and Nifty could head towards 4950. While on the lower side if the rising channel support at 4780 is breached, Nifty could once again test its 200 day ema at 4660,” said Finquest Securities report.
Source : http://economictimes.indiatimes.com/markets/stocks/market-news/Sensex-opens-higher-metals-auto-FMCG-gain/articleshow/5578575.cms
“While China, Honkong, Taiwan, Singapore are shut today as well on account of Chinese New Year holiday, Japan and Korean markets are up around half a percent and so is SGX Nifty. Yesterday’s high, 4845, remains the immediate support, a crossover of which will open the space till 4950, while on the downside 4675 is a crucial support,” said Anagram Stock Broking note.
At 9:20 am, Bombay Stock Exchange’s Sensex was at 16068.77, up 30.42 points or 0.19 per cent. The index touched a high of 16135.99 and low of 16042.18 in early trade.
National Stock Exchange’s Nifty was at 4807.45, up 5.5 points or 0.11 per cent. The broader index hit a high of 4823.25 and low of 4796.40 in trade so far.
“Nifty is moving up in a small upward moving rising channel after the sharp fall of 3 weeks. As long as the channel holds, upmove is likely to continue and Nifty could head towards 4950. While on the lower side if the rising channel support at 4780 is breached, Nifty could once again test its 200 day ema at 4660,” said Finquest Securities report.
Source : http://economictimes.indiatimes.com/markets/stocks/market-news/Sensex-opens-higher-metals-auto-FMCG-gain/articleshow/5578575.cms
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