The fifty stock index Nifty snapped
7-day losing streak on Tuesday, the index rallied a bit intraday but could not
hold all its gains till the end. Today’s session was more like a roller coaster
ride, where the index opened negative, then showed some strength in morning
trades, but the sentiments turned pessimistic in late afternoon trades and
index started drifting lower, however the market regained its momentum in the
final hour of trade and finished the day gaining around half a percent. Today nifty started with 8478 made a high of
8646 and low of 8470 and closed at 8565, total 176 points was played by nifty
throughout the day.
For tomorrow If the index were to fall below 8500 -level it could go further down. Expect good amount of bull liquidation once the 8500-level is also broken. In that case, a slide down to 8400 could well be on the cards.
For tomorrow If the index were to fall below 8500 -level it could go further down. Expect good amount of bull liquidation once the 8500-level is also broken. In that case, a slide down to 8400 could well be on the cards.
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RESISTANCE: 8600, 8650, 8700
SUPPORT: 8550, 8500, 8450
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