NIFTY FUTURES
Nifty futures chart is currently finding strong golden ratio and 100 hours resistance at current levels, technical chart indicates further strength can be seen once it closes and holds above its resistance.
Stock major trend indicator is moving in positive zone this indicates if stock starts trading above its resistance zone then further price rise can be seen during market hours.
On Tuesday Nifty and sensex closed negative due to profit taking Bank and financial counter witness selling pressure whereas metal counter rose up.
On political front Lok Sabha began the debate on the GST Constitutional Amendment Bill today. Finance Minister Arun Jaitley urged opposition not to send the bill to a standing committee arguing that it will delay the bill by at least another year, missing the 2016 deadline.
On result point of view Kotak mahindra bank beats estimate with a near 30% rise in Q4 proifts and 16% jump in net interest income, company also announces bonus of 1:1 and with this news stock closed up by 6.5%.
Other heavy weights like ONGC up by 4% and Hindustan Unilever up by 2%.
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