Positive global cues powered our market that closed at the day's high with good buying in realty, banking and power stocks.The Sensex finally ended the day up by a whopping 520 points or 3.83 per cent to 14110 points. The only concern today was the resistance level of 14000-14050 and if that was broken then of course the movement would have been upward. But we didn't expect such a sharp movement upward. In fact with today's performance the market has not only recouped yesterday's losses, but also moved up by more than 100 points, which is good sign, indicating the strength of the market. Sectors that helped the market move up sharply were again realty, bankex, power and psu, which were up by 6.09, 5.42, 4.89 and 4.71 per cent respectively. The Advance decline ratio too is in favour of the advances. This ratio stood at 2347 advances to 459 declines, which also indicates that market could open gap up tomorrow as well.
BSE Sensex (14110): It is good that volatility is not ruled out on the F&O expiry. Now support is seen around 13950 and resistance to the up move is ate 14200-14500
NiftyTechnical Trend (4276) the support for the Nifty is at 4200 and the resistance to the up move is at 4380/4420:
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