Nifty faced a Lot of resistance to touch 9000 mark, and profit booking dragged nifty to settle in negative for consecutive days, a part from this today President Trump's address to Congress is the news in focus, While the RSI is placed at 66 i.e., below over bought zone and it is showing some weakness and Stochastic is coming down from over bought zone and the CCI gone up to 157 and now placed at 80. So Nifty will now test the support levels at 8800. So one can initiate SHORT positions in NIFTY with a small stop loss at 8920 for a Target of 8800.NSE:NIFTY
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The markets have been opened gaped up, so wait for the confirmation.
Hi @venkaticr, Yes there will be a impact on IT stocks if he changes any Immigration Policies. ButToday (28-FEB-2017) Both FII(FOREIGN INSTITUTION INVESTORS) and DII (Domestic Institution Investor) are Net Buyers, FII/FPI - 1146.23 Cr, DII- 268.34 Cr . But if any bad news Nifty will remain under pressure Till this series. You can Hold Stocks If you have any Delivery with a Medium to Long term perspective.
venkaticr
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@SB7, I thought some more correction will come before the next rally. Expecting Nifty to go 8700 and Bank Nifty to 24450. Lets see.