Nifty opened on a positive note and jumped above 6700 mark. It made a high of 6743. But it could not sustain on higher levels and fell sharply. It made a low of 6701 and finally it ended at 6715 with a gain of 0.24%. The Advance Decline ratio was almost flat.
Now Nifty has strong support at 6650, thus one can hold long positions with 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. On the downside, 6650 remains an important support for short term.
Now Nifty has strong support at 6650, thus one can hold long positions with 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. On the downside, 6650 remains an important support for short term.
.jpg)