Market fell 1% as nifty & sensex failed to maintain the strong up move which was recorded on May
20, on the back on exit polls for Lok Sabha Election 2019, but in Wednesday’s
trade Sensex ends 140 pts higher, holds above 39K ahead of poll results, while nfity closed at 11700 mark.
We remain structurally
positive on the market and expect positive bias post elections. Any dip or
correction is expected to act as a strong buying opportunity. We expect Nifty
to test 12100 -12300 on the higher side, while meaningful support is seen at 11500.
Investors are advised to accumulate while traders can use volatility in their
favor and follow a buy on dips strategy.
More about intraday tips on Google +
Resistance: 11900, 12200
Support: 11600, 11500
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