Nifty opened on a positive note and made a high of 6688, but it could not sustain on higher levels and fell sharply. It made a low of 6638 and ended at 6659 with a marginal gain of 0.11%. The Advance Decline ratio was almost 4:5.
Nifty is still above 6650 on the closing basis thus the support of 6650 is intact. One can hold long positions with closing stop-loss of 6650. If Nifty sustains above 6740 then we may see lot of short covering. We maintain bullish view on Nifty with our short term target of 6950.
Nifty is still above 6650 on the closing basis thus the support of 6650 is intact. One can hold long positions with closing stop-loss of 6650. If Nifty sustains above 6740 then we may see lot of short covering. We maintain bullish view on Nifty with our short term target of 6950.
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