NIFTY
has closed at 7743.25. In the day trade NIFTY has made a low of 7721.80 and
bounced back. Below is the chart for NIFTY which clearly shows the support area
where it has made low in the price chart and in the RSI chart as well. Good chances
are there to
bounce in tomorrow’s trade. If it does not sustains the higher
level and breaks and closes below 7705, as we have mentioned in our previous
posts, then we must sit aside, squaring off all longs in NIFTY. Stock specific
movements will continue. One can keep these levels in mind and trade.
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