Expect some volatility

The Nifty continued its upmove. On the upside the index could test the 2200-2220 range, which is the upper end of its channel. Intra-day profit taking could be expected around the 2200-2220 range. On the downside the Nifty has a support at 2175. Intra-day volatility could take place on a break below 2175. Below 2175 the index has a support at 2140. Intra-day the Nifty has a crucial support at 2175 and the intra-day bias is up above 2175. TCS has a support at Rs1,300 and on the upside the stock could test Rs1,360. Union Bank has a support at Rs100 and on the upside the stock has a resistance at Rs112. IPCL has a support at Rs163 and on any intraday dips the stock should find support around Rs163. Satyam has a support at Rs500 and on the upside the stock could test Rs525.

Sharekhan

Reliance - Motilal Oswal Report

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