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

Markets made a good up-move today with Sensex up 831 points & Nifty up 258 points. Today all sectors except Oil & Gas were in the green. Nifty Realty was the top performer followed by Nifty Metals & IT. The baking index also made a good move today up 1.66%. The nifty midcap index was also up 1.82%. Among the Nifty50 pack, IndusInd Bank was the top performer followed by Hindalco & HCL Tech, while UPL, M&M, And Bajaj Finserv were top losers.

Markets are making good moves on both sides and it's difficult to predict any future move. However, expect some correction in short term. Investors are advised to trade cautiously and follow strict stop loss.

Technical levels
Nifty 50 – After today`s up-move 18000 will act as immediate and very strong resistance for Nifty on breaking it we might see 18150 levels and later on 18225 levels, while on lower side 17890 will act as strong support and once this level is breached we might see 17700 levels & 17500 levels.

Bank Nifty – 40K will act as very strong resistance on breaking which 40270 levels are possible and once this level is broken 40500 is also possible. On the lower side, 39670 will act as strong support on breaking which next support is at 39500 & the next is 39350.

Results tomorrow – BOI, Bharti Airtel, Dabur India, HPCL, Jindal Steel, PNB Housing Fin, Sun Pharma, Trent Ltd.

Sector in focus – Telecommunications, Banks, IT & Metals

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