Nifty View: The underlying positive momentum continues as the benchmark Nifty index gained a little over 100 points in today’s session. Two upside targets were mentioned in our last write-up - 15,575 and then 16,455. The index has tested the first target in today’s session quite comfortably without any slippage from its intra-day highs. The underlying trend is UP and high on momentum and so one should maintain an overall bullish stance on the market and not go out looking for a prospective high. Strategically we should continue a bullish bias with immediate supports at (15,200-15,300).
Thank you for following my work and please feel free to share your thoughts and suggestions.