Thursday’s session will see the Nifty50 facing resistance at 9,530 and 9,565 levels.
On Wednesday, the 9,540 and 9,590 levels will act as immediate resistance.
We expect a modestly positive start as the global setup remained positive.
The 9,660 and 9,710 levels will continue to act as critical resistance in the coming week.
Nifty50 came off 80-odd points from the day’s high to end flat with a net loss of 3.60 points.
We expect the 9,700-9,725 zone to remain a formidable resistance to the benchmark indices.
On Tuesday in all likelihood, market may extend their gains and attempt go near the 9,700 mark.
In most likelihood, the market will expand its corrective activities and continue to show declining tendencies.
The broader market will remain in the corrective mode, keeping its trend intact.
The market once again tested the short-term support of 20-DMA, which stands a 9,577.
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