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Below is quote On Today’s Market report by Mr. Rahul Sharma, Co- Founder, Equity99.

Both Nifty & Sensex touched the mark of 17000 & 57500 making their new lifetime high. Nifty Metals was the top gainer today followed by Pharma & Reality Index. The nifty Midcap index was up 0.4%, Banking Index was flattish today with Bandhan bank being the top gainer up 4.17%. Among Nifty50 stocks, Bharti Airtel was the top gainer followed by Bajaj Finserv & Eicher Motors. While Nestle, Tata Motors & IndusInd Bank were top looser.

The market is making new high daily on positive global clues. The rally is expected to continue unless there is any change in global clues.
100% margin will be set by tomorrow as instructed by SEBI & volumes might get a lower incoming session, we would advise short-term players to be very cautious as profit booking might take place at higher levels use of strict stop loss will be recommended.

Sectors in focus tomorrow – Metals, Logistics, FMCG & IT

Nifty is in blue sky zone,  formed big white candle, crossing all of the intermediate highs & hurdles making fresh historical record high levels of 17132, all parameters on technical charts are on the bullish side, this type of formation on charts are indicating that bulls have taken charge &  further highs are expected with the support of midcaps and nifty bank to 17200-17225 and 17300 levels which will be tested, nifty on the downside has strong immediate support at 17075 followed by 17000 & 16900 levels.

Bank Nifty which has underperformed looks more promising as the consolidation is taking place and resulted in flat closing today, soon it shall come out of range, and with strong volumes & we will witness big momentum in the index, now the support levels for the nifty bank is placed at 36225 followed by 36100-3600 levels & upside hurdle is placed at 36550 – 36700 levels.

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