Nifty opened on a positive note and jumped above 6700 mark. It started trading higher tops and higher bottoms on the intraday chart and made a high of 6741. But in the last hour of trade it witnessed profit booking and finally it ended at 6699 with a gain of 0.07%.
The Advance Decline ratio was almost 3:4. 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.
The Advance Decline ratio was almost 3:4. 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.
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