Market momentum may continue, watch out for Nifty's 9928 level

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Equity tips:-
                                                    

  • Indian markets are likely to open flat on Thursday, tracking mixed trading across Asian markets. The muted trend in SGX Nifty, which was trading at 9,918, down by 10 points, also signalled a subdued opening for the domestic markets. 
  • Nifty50 is likely to continue its momentum on the upside; now, going forward, the all-time high level of 9,928 may act as a resistance level, and if it holds above this level, it may scale up to the magical mark of 10,000. On the downside, supports are seen at the levels of 9,840 and 9,780.
  • Key results for the day: ABB, Bajaj Auto, Hindustan Zinc, Kotak Bank, NIIT Technologies, RBL Bank, Reliance, Wipro.
  • Back home, Indian equity markets on Wednesday staged a smart rally led by pharma, metal and telecom stocks. Nifty settled at almost 9,900 mark and Sensex closed 5 points shy of 32,000 mark.
  • In the US, Wall Street closed firmly in the positive territory on Wednesday, with all the main equity benchmarks reaching new record closing highs. Dow Jones Industrial Average gained 66 points to finish at 21,641, Nasdaq Composite index surged 41 points to close at 6,385 and the S&P 500 climbed 13 points to 2,474.
  • Majority of the Asian Markets are trading in positive terrain in early trade on Thursday. Japan’s Nikkei 225 is leading with gains of 0.35%, followed by Hong Kong's Hang Seng which has gained 0.07%, while China’s Shanghai Composite has shed 0.04%. 

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Location: India

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