NIFTY TODAY
Today nifty traded in a wide range with positive bias. Volume was rather good. Nifty had a steady upward move and closed far away from the crucial support level 5180. Last week nifty had lost 260-odd points and today it retraced 170-odd points. Market breath was positive with 48 advances and 2 declines. FII’s were net buyers for 263.96 crores. DII’s were net buyers for 30.25 crores.
NIFTY TOMORROW
To my knowledge, as FII’s had remained buyers today, tomorrow again we may see an up move with positive bias, possibly in a tight range. The 5225 level would be a significant resistance for nifty’s up move. Around 5275 levels we may see some selling pressure. So, cautious approach is needed around 5275 level. Would nifty have a gap up opening, then trade cautiously at every rise. Let’s see what happens tomorrow.
NIFTY TIPS
BUY ABOVE 5203 T1 – 5225, T2 – 5255, T3 – 5275, STOPLOSS – 5190
SELL BELOW 5190 T1 – 5165, T2 – 5140, T3 – 5115, STOPLOSS – 5203
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