With the strong positive global news we expect gap up opening. In our view nifty will continue to move up within the rising blue color channel with strong determination without any run away rise /collapse & keep steadily rising blue color channel ( as shown in the chart) barring unforeseen events. It should be noted that FII had been uninterrupted buyers for couple of weeks & has become aggressive as indicated by their last two days figure.  For the day we see 4930-5010 as the trading range, breach below 4930 will head for 4880-4900(low probability) & cross above 5010 will lead to 5080-5100(high probability).

 Bank nifty has been mercurial compared to nifty as usual. Yesterday’s pattern is more bullish than nifty. For the day we see 8900-9275 as trading range with 9450-9500 as resistance & 8800-8750 as support.

We recommend buying SIEMENS on cross above of 756 with the stop of 735 for the target of 820 in next 15 days.

We recommend buying AXIS BANK below 950 with the stop of 920 for the target of 1050& above.