The rally has been brilliant so far and we are expecting a gap up today. The important point is not to jump in at the opening and Waitsfield a decent dip to enter. I advise to focus on stock specific moves rather than focusing on the Index. Another important point to note is that if we open at the levels shown by SgX, then we will be crossing 16445. It has been the biggest resistance so far for the last few weeks. If we close above this level, then expect 16700 approx in this week itself.
#Nifty. Support is placed at 16225 and resistance at 16445 to 16500.
#BankNifty. It should continue to outperform the broader markets. Should touch or cross 36000. Support is placed at 35250 and resistance at 36200.
Watch for the close. Carry longs only if you see a close above 16445 else book profits.
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