Biggest single session rally of 2013, convinced investors

Sensex jumped 486.24 points and ended at 19362.19 while broadbased Nifty rallied whopping 146.45 points' and ended at 5828.8. This is the biggest single day rally in 2013 for Indian equity market. The Sensex regained the psychological 19k mark while the Nifty reclaimed to sustain above 5800 level. Optimism that Fed will not rush to rein in its stimulus measures fuelled a rally in global markets especially Asian bourses. Sentiment was also boosted as the INR gained on Friday, further retreating from a record low hit on Wednesday. The Govt.'s push to raise gas prices heaved prospects for more fiscal and economic  even though shares in energy companies closed off the day's high.
All the sectoral indices on NSE gained toaday. CNX Metal gained the most by 4.3% followed by CNX Infra(3.99%), CNX PSE(3.9%), CNX Energy(3.76%), CNX Finance(3.65%), CNX Realty(3.58%), CNX BankNifty(3.4%), CNX Commodities(3.16%) and CNX Auto(3.06%) which gained more than 3% today.
In Nifty50 stocks, just 3 stocks ended into red territory. Jindalstel was the top gainer by 7.4% and HCLTech was the top loser by 2.81%.

Nifty Outlook : 

First three days of the week, spot Nifty broke the short term bullish trend and closed below that. It indicates the weakness on the shorter term subject to trade below 5860-5870 levels. So, triggering 5870 level, the short term bears could be trapped as volumes in Nifty Fut rose about 32.66% to the last week on weekly chart.

Immediate Support (For Jul Fut) : 5810 / 5770
Immediate Resistance : 5877 / 5965