“BUY NIFTY
FUTURE @ 8790 TGT 8830/8870 SL 8840”
More about intraday tips on Google +
Market extended
its winning run to the fifth session today. In volatile movements,, Nifty index
spurted by 63 points, to close at 8778. During the session, it shuttled between
8785 and 8682. We believe this move will extend further in the coming sessions also.
The bulls
are showing continued enthusiasm to take fresh long positions and the bears are
covering their shorts; if the index were to get past the 8800 – 8835 range tomorrow,
then the bulls would gather more strength to push and clear the major
resistance between 8849 and 8892. We are quite skeptical about this rally
continuing beyond the 8720-mark but it appears that the upswing has still some
more headroom left. However, as of now, fresh weakness signs would only be seen
only when it closes below 8630 now. More about intraday tips on Google +
RESISTANCE: 8800, 8850, 8900
SUPPORT: 8750, 8700, 8650
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