After trading in a narrow range throughout day, the market has closed on a bullish note. The week has began on a positive note, with the Nifty closing above 10350-mark. The Sensex closed up 108 points at 33266, while the Nifty ended higher by 36 points at 10393. Nifty future has opened at 10380 made a high of 10404 and low of 10368.total 36 points nifty future has moved in intraday."BUY RELIANCE 990 CALL @ 12 TGT 15.90/18.50 SL 9.4""SELL HINDALCO FUTURE BELOW 274 TGT 272.40/271.90 SL 277.50"
In all likelihood, going into trade on Tuesday and ahead, we can expect more consolidation in the market. The Nifty future is likely to trade like it did in the today’s trade. The index may attempt marginal highs but a clean breakout may still remain elusive and we may see prolonged consolidation. The 10420 and 10450 levels will play out as immediate resistance for the Nifty future. Supports may come in at 10320 and 10270 levels, which are relatively lower than the resistance area.
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Resistance: 10420, 10450,
10470
Support: 10330,
10300, 10275
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