Last 3 weeks Nifty has been gaining consistently.
This week Nifty has immediate supports @ 5350/5320/5280.
Major support exits in the 5270-5250 zone. Any move below 5300, must be used to build long positions with SL @ 5240 (spot).
5200 appears to be the rock bottom level for the current rally.
On the upside expect Nifty to show levels of 5350/5400/5500 in the near future.
Staying long makes sense for now.
This week Nifty has immediate supports @ 5350/5320/5280.
Major support exits in the 5270-5250 zone. Any move below 5300, must be used to build long positions with SL @ 5240 (spot).
5200 appears to be the rock bottom level for the current rally.
On the upside expect Nifty to show levels of 5350/5400/5500 in the near future.
Staying long makes sense for now.
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