Type " JOIN SHAREBAZAARONL " & Send Sms To 567678
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Market opened positive led by global cues and almost turned and kissed its major support as written that was near 4833 and closed once again above it.Market breadth was negative with advances at 558 against declines of 724.Market is already in selling zone since broken the level of 5100 and also trendline support is broken and hence looking to kiss the 200 DEMA which is placed now near 4640.Market have taken a support from the level of 4832 which is 50 % retracement of ( 5311-4353 ) but still will face a stiff resistances on every rise and will hard to sustain if any pull back comes.A good support now comes first near 4805 for the time being and as long as we hold it, expect a relief rally if not then be ready for 4720.On the higher side it will face the hurdles near 4910-65 range and it should close above these mark for a short term rally in the upward.Still low made today can play a vital role for the time.
NIFTY (4867.25)
Support : 4840 / 4810 / 4770 / 4720
Resistance : 4920 / 4980 / 5060
SENSEX (16306.87)
Support : 16100 / 15930
Resistance : 16540 / 16890
NIFTY FUTURE (4872.05)
Support : 4820 / 4760 / 4710
Resistance : 4920 / 4960 / 5060
MKT COMMENTS
NIFTY FUT OI up 22.04% with 18% increasing volumes indicating forming of long positions for BTST.
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