NSE:NIFTY Nifty 50 Index
Nifty has risen from 7900 to 8300 in straight line. 8275-8340 zone is a big hurdle and it may not cross this zone in this leg of rally. Nifty should go back and test 8050-8100 or atleast 8170-8180 zone. How strong the market is will depend on the level it bounces from. Latecomers to the Bull's party may incur losses.
Nifty dipped to 8227 and reversed indicating strength in the market. With the help of BankNifty, Nifty should move towards 8550-8600 slowly though. BankNifty will outperform.