"BUY NIFTY ABOVE 8562 TGT 8595/8630 SL 8520"
Market has ended in positive terrain on
Wednesday, robust progress in monsoon influenced trading sentiment. The
Sensex ended with a gain of 128 points at 27916. The Sensex opened at 27776
touched an intra-day high of 27935 and low of 27760. The Nifty closed with a
gain of 37 points at 8566. The Nifty opened at 8515 hitting a high of 8570 and
low of 8512.
It's a wait-and-watch scenario; the
focus is on results and GST bill, Nifty has managed to close above the
8560 level but the movement was only of 58 points. So for any uptrend 8695 will
be the resistance. For making new high nifty have to pass out 8600 resistance
level after that 8630 & 8650 will be the target for nifty, whereas 8480
will be the best supporting level. For any correction nifty have to crack 8465
level, once 8465 will break 8400 would be the target for nifty.
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RESISTANCE:
8530, 8575, 8600
SUPPORT: 8500, 8475, 8450
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