After a bearish opening
on back of global cues, the market bounced back and gave a strong recovery. Moreover,
most of the time of the first half, the index traded in a range bound move,
though after giving a breakout of the same, nifty made a high near 9090 level.
During the trading session, we saw a good move in Banknifty compared to Nifty
and settled with the gain of 2.3%. At present level, the nifty have a good
support at 8800 while upside resistance comes at 9100, if the Index sustains
above 9100 then we may see an upside movement up to the level of 9300.
Nifty formed a bullish
candle on the daily chart. The index now has strong resistance near the 9100-9200
levels, and if it manages to surpass and sustain above this zone, then we may
see some change in momentum from negative to neutral. Below 8700, the index may
once again see pressure towards immediate support at 8500 -8400.
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Resistance: 9100, 9200
Support: 8700, 8500
good profit achieved on both calls.
ReplyDeletethank u sir. for live market trading tips whatsapp on 9039542248
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