Nifty market opened on a positive note but after making a high of 7365, it witnessed profit booking. In the afternoon session it took support at 7300 and bounced back smartly. Finally after making a high of 7381, it ended at 7367 with a gain of 1.25%. The Advance Decline ratio was almost 5:2.
For last 4 days, Nifty was trading in a narrow range of 7200 to 7325. But on Friday, it broke this range upside with good volumes. Thus we may see further upmove and soon Nifty can test our target of 7563, which is 16th May high. On the downside, any correction is a good buying opportunity, today's Nifty has strong support at 7300 for immediate term. However, the range of 7000 - 7100 remains a strong support range for short term.
Get the more nifty recommendations for live market.
Today's Nifty Levels:
Support 1: 7313
Support 2: 7260
Resistance 1: 7400
Resistance 2: 7434
For last 4 days, Nifty was trading in a narrow range of 7200 to 7325. But on Friday, it broke this range upside with good volumes. Thus we may see further upmove and soon Nifty can test our target of 7563, which is 16th May high. On the downside, any correction is a good buying opportunity, today's Nifty has strong support at 7300 for immediate term. However, the range of 7000 - 7100 remains a strong support range for short term.
Get the more nifty recommendations for live market.
Today's Nifty Levels:
Support 1: 7313
Support 2: 7260
Resistance 1: 7400
Resistance 2: 7434
.jpg)