"NIFTY SELL BELOW 10230 TGT 10180/10120 SL 10300"
As we have predicted yesterday after opening at 10217 nifty future has
made low 10155 and high of 10277 and closed at 10233. The Sensex and Nifty snapped the six-day
losing streak on Thursday following a strong Asian market closing on easing
fears of a global trade war as the White House signalled it would water down
plans for contentious metal tariffs. Short covering also led to the bounce
back.
As being week ended Friday tomorrow the markets will remain range bound as
there is no major trigger for this week. The mood of the market will remain
buoyant and stock specific movement will dominate the week but in general the
wait and watch phase will continue. We recommend avoiding long and keeping
overall exposures moderate while keeping a cautious view on the market. The
levels of 10325 and 10400 will act as immediate resistance levels for the
market. Supports come in at 10150 and 10100 zones.
RESISTANCE: 10325, 10375, 10425
RESISTANCE: 10325, 10375, 10425
PIVOT POINT: 10150
SUPPORT:
10100, 10050, 10000
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