Nifty View: Disappointing close for the benchmark Nifty
index in today’s session. The index slipped close to 100 points from its intra-day high of 15,930 to post a close at 15,832. A new life-high was posted by the index which it failed to hang onto - a clear sign of profit-taking as the index got carried away with optimism. Now no damage to the short term trend yet which is still UP and it will be important to observe whether it manages to bounce back. Current lows are decent short term supports for the index, a slip below which will see a test of (15,650-15,700). On the upside levels to watch for is at (15,890-15,910). Let’s maintain the bullish
bias with a dash of caution and observe how the index fairs in the next few trading sessions.
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Trade Well. Trade Wise.