By tracking mixed global cues, the domestic markets opened with bullish sentiments. Nifty opened on a flat to positive note at 9079.45 up by 0.14 percent while Sensex opened at 30904.29 increased by 0.27 percent. It is holding 9100 level and trading at 9118. It made a low of 9056.10 and high of 9125.25. The immediate support and resistance levels for Nifty are 8950 and 9300 levels respectively. On hourly chart, Nifty is trading in above the 8 days and 24 days simple moving averages. The RSI is trading at 60.99 level which indicates positive momentum in the index. The overall market breadth is tilted in the favor of buyers as 1078 stocks are advanced and 444 shares are declined. Among sectors, except IT all the sectors are trading with positive sentiments with Nifty Auto is up by 2.00 percent followed by Nifty Financial Services up by 1.69 percent. The Indian currency market opened at 75.55 per dollar as compared to previous close of 75.53 per dollar.
Niftybank: It is opened on a flat note at 17901.95 surged by 0.34 percent and continue to trade with positive sentiments. It made a high of 18072.65 and low of 17845. The immediate support and resistance levels are placed at 17500 and 18470 respectively.
Stocks in Limelight:
BAJAJAUTO: Q4 Result: The company reported profit is Rs 1,310 crores versus Rs 1,305.6 crores, revenue at Rs 6,816 crores versus Rs 7,420.5 crores YoY.
JUBLFOOD: Q4 Result: The company profit at Rs 33.1 crores versus Rs 79 crores, revenue at Rs 909 crores versus Rs 873 crores YoY.
AVIATION STOCKS: The airline stocks will remain in spotlight as flight operations will restart on May 25 with one-third the schedule.