Nifty: On the back of positive cues from global front, Nifty opened with positive gap and traded in a narrow range most part of the session. The sudden spurt in last hour resultant upside breakout from that range and helped index to gain more than one percent by the end. Recovery in Banking ,IT along with rise in Consumer durables, PSU stole all limelight as majority ended flat.
View: After 7 consecutive negative session, nifty formed a bullish candle on daily chart and this rally can be extended upto 10550-10570 level, on the other hand any fall below 10400 mark can open further fall for the target 10200 mark….
Stock of the Day:
|The trend of the script is bullish. On the intraday chart ,there is a positive cross-over of the moving averages and a trend line breakout therefore, it can be bought at CMP with a stop-loss of 530 and target of 540.|
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