Markets ended higher on Thursday, amid a range bound trading session, because of short covering in Infosys and buying interest in HDFC Bank after the private bank posted robust June quarter earnings. Capital Goods shares also supported the upmove.
The 30-share Sensex ended up 128 points at 20,128 mark and the 50-share Nifty ended up 65 points at 6,038 levels. The Sensex and Nifty touched an intra-day high of 20,176 mark and 6,051 levels, respectively.
Japan's Nikkei share average rose 1.3% to a new eight-week high on Thursday as the dollar traded above 100 yen after Federal Reserve Chairman Ben Bernanke said the timing of when the US central bank would begin winding down its stimulus was flexible. The benchmark Nikkei gained 193.46 points to 14,808.50, the highest closing level since May 22. The broader Topix added 0.7% to 1,222.01. All European markets and US Market are green today.
The rupee led the declines among emerging Asian currencies today after Federal Reserve Chairman Ben Bernanke confirmed market views that the U.S. central bank expects to start tapering monetary stimulus this year.
Currently Rupee trading at 59.70 and crude trading at 106.38. Today FIIs and DIIs are sellers today. FIIs sold 178.29 crore and DIIs sold 239.41 crores. Last 4 days FIIs sold around 800 crores. So both are not bullish ,investors must approach market cautiously.
So trade accordingly with global trend. Tomorrow nifty has support at 6000 and nifty will move up to 6100-6130 tomorrow but it difficult to sustain above that level.
Supports and Resistances of Nifty (19/07/2013)
Nifty Chart
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