“Once again, our markets kick-started on a strong note owing to massive overnight rally in US bourses. During the initial hour, index came off a bit from opening highs; but, it was merely a gap filling activity as we saw sturdy move throughout the remaining part of the day to end the session at day’s high tad below the 10100 mark.
Monday’s move beyond previous hurdle of 9980 seems to be the catalyst for today’s decent move towards the mentioned level of 10080. And looking at the close, it seems that the index is heading towards the recent high of 10137.85. Despite this we still believe that the better option to trade would be outside the index. The kind of moves we have been witnessing in individual stocks since last few days is quite mesmerizing. Hence, we would continue to focus on individual stocks wherein the percentage wise moves are much bigger. For the coming session, 10028 – 10000 should now be considered as a key support zone.”