Nifty opened on a negative note and started making lower tops and lower bottoms on the intraday chart. The selling intensified as Nifty broke the support of 7300. Finally after making a low of 7224, it ended at 7235 with a loss of 1.28%. The Advance Decline ratio was almost 2:3.
Nifty has broken the immediate term support of 7300. Now it can test 7175, but it has strong support in the range of 7000 - 7100. I think this correction is a good buying opportunity in nifty with stop-loss below 7000. On the upside 7350 is a hurdle now if Nifty breaks 7350 then can again test its 16th May high of 7563.
Nifty has broken the immediate term support of 7300. Now it can test 7175, but it has strong support in the range of 7000 - 7100. I think this correction is a good buying opportunity in nifty with stop-loss below 7000. On the upside 7350 is a hurdle now if Nifty breaks 7350 then can again test its 16th May high of 7563.
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