Negative global cues is a concern for the market. However Sensex moving above 17000 mark is a great psychological victory for bulls.
On option front, implied volatility has decreased marginally by around 100-150 basis points, indicating positive bias for the market. Nifty is technically in uptrend.
Support and Reistance of BSE and NSE Indices
| Index | Support | Resistance |
| Sensex | 16899 | 17251-17475 |
| Nifty | 5025 | 5161-5175 |
Previous day Market News
After a flat opening at 16,868, the BSE Sensex rose steadily to finish near the day's high. The Sensex jumped by 274 points or 1.63% to 17,127, its best closing since May 2008. Likewise, the S&P CNX Nifty closed at 5,084, up 77 points or 1.54%. On the BSE, the mid-cap and the small-cap indexes moved up around 0.95% each, underperforming large-caps. The market breadth was fairly positive, with 1598 gainers versus 1183 losers. Thus the point to note is that till the time Sensex is above 17000 level one will see positive trend in the market.
Paid Day Trading Tips Result
| Stock | Profit |
| Reliance | 3800 |
| Bharti Airtel | 165 (Reversed before first target) |
| PNB | 2880 |
| Hind Unilever | 190 (achieved target 1) |
| Ranbaxy | 170 (reversed before target 1) |
| Axis Bank | 6400 (closed with 6.35% gains) |
| ONGC | 1315 |
| Stock | Profit |
| Tip 1 | 11600 |
| Tip 2 | 17400 |
| Tip 3 | 2000 |
| Tip 4 | 54000 |
| Tip 5 | 6300 |
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