NIFTY TODAY
Bears tighten their grip on D-street
& took nifty below 10900 mark. The week has started on negative note at
10930 after making low of 10857 finally it has closed at 10888. Today with the introduction of weekly option in the
Nifty index from 11th February, it would provide decent trading opportunities
to traders and investors for hedging short-term events and taking advantage of
volatility differentials.
NIFTY TOMORROW
Nifty has reached closer to the immediate
and crucial hurdle of 10800, and a decisive breakout will trigger fresh surge
ahead. We suggest maintaining cautious approach in the nifty future,
considering the mixed sentiment. Traders should focus more on the money
management aspects and avoid taking unnecessary risk. The 10950 and 11000
levels may act as immediate resistance levels for Nifty, while supports may
come in at 10850 and 10800 levels.
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Resistance: 10950, 11000
Support: 10850, 10800
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