BUDGET IS AHEAD... TO TRADE IN BUDGET SESSION CALLS WHATSAPP ON 9039542248
BUY NIFTY 11950 11 JUL CALL @ 90 TGT 110/130
Wednesday's
range bound trading session ended on negative note as investors remained on the
sidelines a day before the new government tables the Economic Survey in the
Parliament on Thursday, July 4. Nifty ended marginally higher in the volatile with
Nifty able to hold 11900. At close Sensex was up 22 points at 39839, while
Nifty was up 6 points at 11916.
Nifty remains in a
structural uptrend and is expected to scale new highs.
We expect some
volatility in the near term post with an impulsive up-move is expected. Advice
buying in dips for initial target of 12000 -12200 followed by 12500 on the
higher side. Downside support is seen in the range of 11800 -117000. Only a
breach of 11600 will invite caution. Private banking and Consumptions are
expected to lead while Metal and Auto stock are expected to stage a bounce
back.
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Resistance: 12000, 12200
Support: 11800, 11600
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