Market Mantra
Nifty fell down to 8216 on Friday, as the whirlwind correction took its toll, after an initial rise to 8322. At the end Nifty closed at 8224 with a net loss of around 69 points.
However, as is seen since the morning trade 8150-8170 is likley to provide support for Nifty. At present the Nifty_spot is trading at 8,218.35 down 5.75 points. However, for the moment the correction seems to be over. The traders are suggested to for Nifty longs at 8,263.90 with a target of 8400. The investors are suggested to go full hog on the rate sensitives as Repo rate cut is now imminent.;
RESISTANCE: 8270 / 8300
SUPPORT: 8170 / 8150
However, as is seen since the morning trade 8150-8170 is likley to provide support for Nifty. At present the Nifty_spot is trading at 8,218.35 down 5.75 points. However, for the moment the correction seems to be over. The traders are suggested to for Nifty longs at 8,263.90 with a target of 8400. The investors are suggested to go full hog on the rate sensitives as Repo rate cut is now imminent.;
RESISTANCE: 8270 / 8300
SUPPORT: 8170 / 8150
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