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Showing posts from August, 2020

RBI LEAVES RATES UNCHANGED. NIFTY TO RESUME UPTREND TOWARDS 11200+

RBI MPC committee maintained status quo on interest rates.  Nifty to resume uptrend from here toward 11200+ Keep stoplossbelow 11050 spot. Regards,  Suryadev Bandari Research Analyst

Bulls likely to step in to lift nifty upward.

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On Friday Bulls held important support zone 11000-11050 and closed at 11073. In last 3 trading days, nifty corrected from 11341 to 11026 with low volumes, appears to be minor profit booking. Monday nifty likely to trade in the range of 10950-11250 range. As per Technical Indicators, Buy on Dips mode. Stoploss for long positions keep below 10900. As long as this support holds, nifty tries to move up towards 11400-11500 zone. Avoid aggressive short selling. Move above 11150 would strengthen Bulls. Move below 10900 would strengthen Bears. Monday's price momentum crucial to decide next week's direction. Regards, Suryadev Bandari Research Analyst