It
was an impulsive day yesterday benchmark Nifty made a low of 8006.90 level, and
ended at 8432 level, but below the previous day closed by 112 points. Looking towards
the 400 points move from day low, sentiment remain positive. Technically index
is trading below 20 DMA and 50 DMA, but it has bounce back from the strong support
level, indicate positive outlook for the index. For bulls to resume Nifty must
closed above 8660 level, on the flip side 8400 will act as a strong support
level.
For
today, any trade above 8473, index can rally towards 8590 level, further 8680.
Risky trader can accumulate Nifty at current level with 8400 Stop loss on
closing basis.
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