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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Watch Nifty
Ø Nifty tested fresh intraday high of 5215 on the back of firm global cues and closed with bullish white candle body. It shows continuation of a trend as well as a possible reversal. The momentum indicators such as MACD & RSI on the daily chart confirms the NIFTY would continue to maintain its uptrend, with likely resistance at 5250/5290 levels.On the downside, the support for NIFTY is seen at 5165/5130 levels. Short term traders are advised to avoid fresh long positions at this point of time.
Ø The ceiling of the downward price channel formed on weekly chart at 5290 will act as a strong short term hurdle and move above this level is needed before traders can initiate fresh long positions. Failure to move above this level will keep the index moving in the band between 4900 and 5,300.
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