Nifty started on a muted note but moved up strongly above the
resistance of 8578. On the higher end price moved towards 8660 and
made an intraday high of 8640. The weekly bearish trend nullified by
a strong closing on the first day of the week. The near term trend has
revered to positive. On the higher end price may move towards the
upper Bollinger band (currently pegged around 8745). On the lower
end closing basis support will remain at 8578.
resistance of 8578. On the higher end price moved towards 8660 and
made an intraday high of 8640. The weekly bearish trend nullified by
a strong closing on the first day of the week. The near term trend has
revered to positive. On the higher end price may move towards the
upper Bollinger band (currently pegged around 8745). On the lower
end closing basis support will remain at 8578.
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