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NIFTY TODAY
Bulls are back
in action & took nifty future above 10900 mark supported by tax cut plan in
China and ease in domestic CPI inflation. Today was undoubtedly the best day so
far of the new calendar year. Firstly, we had a good trended move throughout
the day and importantly, we finally broke out from the recent congestion zone
in the upward direction. At the close of market, the Sensex was up 464
points at 36318, while the Nifty was higher by 149 points at 10886.
NIFTY OUTLOOK
Nifty index
surpassed its falling supply trend line by connecting swing highs of 10980 ,
10925 and 10875 levels and also given a breakout from its Symmetrical Triangle
pattern. The index negated its lower highs of last three trading sessions and
needs to hold above 10850 zones to extend its move towards 10975 -11,000 zones
while on the downside support exists at 10800 levels.
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Resistance: 10950, 11000
Support: 10800, 10750
MINDTREE CALL ROCKSS AS PREDICTED ON 11 JAN TO READ FULL POST VISIT EQUITYFUTURE CALLS ; FOR LIVE TRADING LEVELS WHATS UP ME ON 7225909997
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