Nifty market opened on a positive note and jumped above 7100 mark, thereafter it started making higher tops and higher bottoms on the intraday chart. But after making a high of 7172, it witnessed some profit booking and it made a low of 7078, Finally it ended at 7108 with a gain of 1.35%. The Advance Decline ratio was almost 2:1.
Nifty tested our short term target of 7100, Now if it sustains above 7175 then we may see further upmove. On the downside, If Nifty breaks 7050 then we may see a correction, thus One should revise stop-loss to 7050 for all the long positions.
Support 2: 7010
Resistance 1: 7165
Resistance 2: 7221
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Nifty tested our short term target of 7100, Now if it sustains above 7175 then we may see further upmove. On the downside, If Nifty breaks 7050 then we may see a correction, thus One should revise stop-loss to 7050 for all the long positions.
NIFTY LEVELS
Support 1: 7059Support 2: 7010
Resistance 1: 7165
Resistance 2: 7221
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