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.
Comment:
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.
