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Number of factors including expectations of GST in July indicate happy days are here again

<p>After testing 9191, Nifty closed at 9173.75 on Friday. The roll-over figures were above average, but Banking Nifty recorded a discount of around 100 at the beginning of April futures</p>

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Delhi Deputy Chief Minister Manish Sisodia and Punjab Finance Minister Manpreet Singh Badal during the 13th GST Council Meeting at Vigyan Bhawan in New Delhi on Friday. Pic/PTI
Delhi Deputy Chief Minister Manish Sisodia and Punjab Finance Minister Manpreet Singh Badal during the 13th GST Council Meeting at Vigyan Bhawan in New Delhi on Friday. Pic/PTI

After testing 9191, Nifty closed at 9173.75 on Friday. The roll-over figures were above average, but Banking Nifty recorded a discount of around 100 at the beginning of April futures. Monthly charts are slightly over bought, but weekly charts and daily charts of Nifty are still showing further upside to the market. Nifty has resistance at 9250, if that level has taken off then we can expect further side to the market. Nifty has support at 9128 and 9057. During this period, Idea and BHEL were removed from the Nifty from April 1, with a replacement of IOC and India Bull Housing Finance. S&P 500 VIX and India VIX still suggest further uptrend to the market.

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