NIFTY TODAY
Today steering was in the
hands of bulls. Bulls successfully took the nifty above 11000 mark & closed
at 11062. The market is embracing for the monetary policy to be released
on February 7 Thursday. Investors turned cautious amid selling by
domestic and foreign funds ahead of RBI's monetary policy review.
NIFTY TOMORROW
Bulls rally will
be continued in Thursday’s session also. Supports are shifting higher
gradually. As long as Nifty holds above 11050 , the momentum could extend
towards 11100 and then 11200. On the downside, major support exists at 11000
and then 10950 levels. Nifty appears to have registered a decisive
breakout, thereby shrugging off the last eight weeks of range bound behavior,
as it registered a solid bullish candle with a strong gap up opening. With this
decisive breakout, after a pause of three months, Nifty50 can be heading to
test 11300.
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Resistance: 11100,
11200
Support: 10950,
10900
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