NIFTY- BULLS OVER ENTHUSIASM
Nifty bulls move past 17940-950 area in quick succession and close above the vital 18K mark. Considering the speed one more high is not far away. However, the move past 17950-18000 appears excessive. Any extension likely to face hurdle around the 18100-150 area. Yesterday was a day of broader market participation and hence the bulls hold both the breadth and length. Any fall will remain corrective. One has to wait for these corrective moves to enter as the easy part of the upmove is near. For the day 18050-17900 range with 50 pips violation either way works.
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