Nifty opened on a flat note and entire day it was trading in a narrow range of 7220 - 7260 and finally ended at 7229 with a loss of 0.08%.
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 and think this correction is a good buying opportunity 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.
Support 1:7141
Support 2:7052
Resistance 1:7295
Resistance 2:7361
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 and think this correction is a good buying opportunity 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.
Support 1:7141
Support 2:7052
Resistance 1:7295
Resistance 2:7361
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