Indian bourses continued their northward journey as NSE-NIFTY rose to new two and half month high and regained 10,000 mark. NIFTY extended gain on back of further buying across rate sensitive sectors and other frontline majors. We continue to believe that undergoing positive momentum, which will lead the index towards its long-term moving average (100-day SMA), which is now placed around 10,358 mark. On the lower side, the index will initially find support around its medium-term moving average (50-day EMA) and then around its short-term moving average (20-day EMA), which are placed around 9,510 and 9,410 levels, respectively.
As for the day, support is placed at around 9,930 and then at 9,800 levels, while resistance is observed at 10,180 and then at 10,360 levels.