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Bears came
in action on Friday amid weakness in Friday after the US President Donald Trump
order for missile strikes against Syria air base, potentially escalating
geopolitical tensions.. A range bound trading day ended on lower note. The
Sensex was down 54 points at 29873, while the Nifty was down almost 14 points
at 9248.
If this geopolitical tension escalates further, Nifty may retrace to 9150 in the upcoming session but it will not change the prevailing uptrend. Traders should maintain positive yet caution approach and keep a close eye on world markets for further cues. On the upside, Nifty has resistance at 9300 and if it is taken out, the index could head to 9400-9500 levels as well.
If this geopolitical tension escalates further, Nifty may retrace to 9150 in the upcoming session but it will not change the prevailing uptrend. Traders should maintain positive yet caution approach and keep a close eye on world markets for further cues. On the upside, Nifty has resistance at 9300 and if it is taken out, the index could head to 9400-9500 levels as well.
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Resistance: 9300, 9350, 9400
Support: 9150, 9100, 9050
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