Hi All,
As expected after surpassing the
psychological level of 8000, Nifty rallied sharply by almost another percentage
point and settled near 8070. Sensex too surpassed the barrier of 26000 mark
Going forward, 8120-25 will act as hurdle
for bulls on the up side above which ideally Nifty should target 8200-8340
levels.
On the lower side a solid support from
short term / mid term point of view will be near 7700-7670 and a break below
that will change the trend to downwards.
Till any bearish confirmation on charts the
bias for markets remains positive and Nifty should target 8200-8340 levels in
coming days.
Levels to watch out for –
Supports – 8000-7950-7920-7850-7730-7700-7670
Resistances – 8100-8125-8200-8220-8250-8270-8300-8340-50
Cheers
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