MARKET RECAP                                                                                                                     KEY MARKET DATA POINTS The domestic markets maintained its losing streak for the eight consecutive sessions yesterday amid the rising geopolitical worries. Although the week kicked off on an optimistic note but similar to previous few sessions the benchmark indices ended the session near day’s low. After registering an intraday high of 10760, the index Nifty closed more than 100 points lower from there near 10650 mark. On the other hand, even Nifty Bank index remained under pressure to close with decent loss. Once again market breadth remained in the favour of declining counters throughout the session due to broad-based selloff. On the sectoral front, NIFTY REALTY (+0.76%) and NIFTY MEDIA (+0.68%) stocks were the biggest gainers whereas NIFTY PSU BANK (-1.25%) and FMCG (-1.17%) counters ended in loss. From the F&O space, RPOWER (+11.27%), RCOM (+10.81%) and RELINFRA (+6.63%) were the top performers. MARKET OUTLOOK At this juncture, Nifty is hovering an inch away from the rising trend shown above. Also, below the trend line there is a previous swing low of 10580 which might act as a strong support for the coming session. The support around the trend line coincides with 78.6% Fibonacci retracement levels of previous rally. Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10760 could bring the bulls back in action which can take Nifty back to 10850 - 11000 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level. On the contrary, a close below 10580 could be dangerous for the bulls.Disclaimer)

MARKET RECAP                                                          KEY MARKET DATA POINTS Finally we witnessed a considerable upside after a series of down days on the D – Street. The domestic markets ended in green for second consecutive session after finding support at the crucial level of 10580. The index Nifty spot started the session with an upside gap and traded with positive bias throughout the session to close below 10800 mark. Meanwhile the Nifty Bank index remained range bound to close with marginal gains. Right from the opening, market breadth remained in the favour of advancing counters following strong buying interest in broader markets. On the sectoral front, except NIFTY IT (-0.13%) all the other group indices closed in positive terrain. Amongst them NIFTY PHARMA (+1.16%) and NIFTY METAL (+1.13%) stocks were the biggest gainers. From the F&O space, SUZLON (+21.62%), JPASSOCIAT (+13.33%) and RELCAPITAL (+10.85%) were the top performers. MARKET OUTLOOK    Since past few sessions we have been mentioning that the market has a potential to absorb the selling pressure at the critical support of 10580. Now in line with that, the index Nifty has turned decisively from there. It is evident from the given daily chart that index Nifty has managed to sustain at higher levels after a relentless fall of more than eight trading sessions. Thus, we reiterate our previous stance that till the time Nifty stays above 10580 the probability of it reaching 11000 mark is quiet high. Meanwhile for the upcoming session, 10860 – 10910 levels might act as an intermediate resistance whereas on the downside 10720 – 10640 zone might again attract some buying interest. Traders who initiated long in index futures should follow strict stop of 10600 for the upside target of 11000 and above. On the contrary, a close below 10580 could be dangerous for the bulls.)