Expect this uptick to continue and in the same breath but market to face resistance ahead.
The levels of 10,030 and 10,065 will play out as immediate resistance area for the market.
Treat each upmove with more focus on protecting profits and creating defensive bets.
Tuesday will once again see a modest opening, but expect the market to trade in a range.
The key would be to see if it continues to successfully survive above 50-DMA levels.
The market is likely to remain volatile and rangebound, but it may trade with an upward bias.
The 50-DMA level will continue to pose resistance to the market at closing level on Friday.
Expect a modestly positive start on Thursday, but 9,915-9,945 will continue to pose resistance.
Going into Wednesday, we expect a positive start and market is likely to continue the pullback.
Pattern analysis shows Nifty has taken support at the previous immediate low of 9,685.
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