Market Outlook:
The markets traded within a wide range amid high volatility and ended with modest gains. Buying was seen in the Banking and Realty counters while Metal sector witnessed selling pressure.
Nifty:
Nifty recovered smartly from the days low and ended with modest gains. The 50 DMA at 5,268 will continue to act as a support for Nifty. Nifty has lost almost 150 points in last four trading sessions and we might see some recovery from this level. The 5 DMA at 5,344 will act as an immediate resistance for Nifty. Positive development can be seen only if Nifty closes above 5,350 levels until then expect selling pressure to continue at higher levels.
Support: Major support level 5,300/5,280.
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Investment Ideas
Trading Ideas
- No call initiated at this point of time.
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