After initial
hiccups in the morning trade, the nifty on Friday continued to chase
momentum and finally closed flat at 10360 The final hour of the trade
remained volatile. The Sensex closed at 33157 level or 10.09 points
higher, nifty ended 20 points lower at 10,323 level. The indexes fell off day’s
record highs on account of profit booking as traders, investors moved to cash
in record highs of the stock market.
On Monday, as
we head into the session, there are two distinct possibilities that we see
happening simultaneously in all likelihood. There are bright chances that
we see the market chasing the momentum. Along with this, we are also likely to
see the nifty future meeting consolidation at higher levels, as very evidently
suggested by lead indicators. The levels of 10400 and 10450 will play out
as immediate resistance levels for the market. Supports come in much lower at
10300 and 10250 zones.
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Resistance: 10400,
10450
Support: 10300,
10250
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