YESTERDAY'S AXISBANK HIT TGT
488 MADE HIGH OF 491
LOT SIZE: 1200
NOW TOTAL PROFIT: 18600 IN JUST 2 LOT
Nifty snaps 3-day losing streak, ends 56 pts higher
The Nifty opened the
session at 9,068 levels and extended its upmove to record an intra-day high at
9,121 levels. The contract has marked an intra-day low at 9,061 levels.Indices
snapped three sessions long losing streak to end higher .Technically, we
may see some short covering rally but the trend would still be considered
negative until Nifty closes above 9123 levels . Conversely, the contract needs
to decisively move beyond 9,123 levels to reinforce the bullish momentum and
take the contract higher to 9,150 and 9,180 levels in the near future. Traders
can wait for some short covering rally and can again go short at higher levels.
Remember that overall market is bullish and this is just a correction that may
end once the gap that was created on March 14, 2017 is filled up. Strong
selling would be only seen when Nifty closes below 8970 levels. Until then sell
on rally and book profits on dips. Range for Nifty is 8970 on the downside and
9123 in the positive direction. Breakout from the range would be seen once
market closes above or below any of these levels.
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