Sell SSLT Future below 232 Tgt 231.40/228
SL 235.40
Buy Axis Bank Future above 487 Tgt
489/491 Sl 483
Nifty continued their upward sprint for
the third straight session on Friday; Nifty hit a
record high today led by gains in lenders such as State Bank of India after the
government said it would cut its stake in state-run banks. Nifty
surging 94 points to 8588. Nifty closed 1 % higher at 8588 points, after
hitting a record high of 8617 points earlier in the day.
The market itself is not offering any
reliable clue as to what it does next. The only thing that remains is the fact
that the bullish undertone remains yet some correction has to be there. For Monday,
the range between 8520 and 8600 would act as a trend decider. Falling below 8520
on good volume, the index would start emitting ‘not all is well’ signal.
However, so long as the index stays above 8600, the bullishness is going to
continue.
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RESISTANCE: 8590, 8620, 8650
SUPPORT: 8560, 8530, 8500
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