Crucial supports held. Means, decent pull back rally t0 9350-9430????

Nifty faced resistance at 9300 levels as mentioned in the last update but bulls succeeded to hold crucial supporting trendline at 8900 levels around.
By looking at the latest data, nifty can climb again to 9350 levels from current levels, provided 8900 support holds.
Hence, avoid fresh short selling as Counter trend wave still in progress.
Unless nifty breaks down 8800-8900 supporting trend line, short term trend remains UP.
Pharma stocks and the Metal stock looks attractive at current levels. Selective stocks can be taken long positions for short term trading purposes.

Resistance 9200-9350.
Support 8900-8850-8800.

Regards,
Suryadev Bandari
Research Analyst

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