Morning Mantra ( 10.05.17 --- 9.00 AM )

Markets are floating in the bull orbit. Post demonization, the liquidity has increased which is also one of the factors for this continuing momentum. The foreign markets look good, there is sustained buying from domestic institutions, the charts are signaling a new bull zone, overall the sentiments and indications are all very positive for Nifty to move towards the 9400 and 9500 levels. However, one should not discount the fact that markets have moved into overbought and overvalued zone at a rapid pace without any consolidations. Sooner or later a profit booking is much expected.
Resistances at 9400, 9440, 9480. Good supports at 9310, 9260 and 9200.

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