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Bulls are resilient at higher levels. 13800 likely next move.

 Nifty, as forecasted before, sustained 13400 support and move past 13600 level.

Every dip being bought into. Majority of stocks still showing some kind of up move left.

Bulls are very resilient at higher levels. In this kind of scenario, trader should follow trend with proper stop-loss orders. Going against trend is fatal to capital. Unless we get strong confirmation of trend reversal, one should avoid short selling ideas. Keep booking profits wherever possible at least partial. 

For the short term point of view, some bounce can be expected in Banking, metals, pharma and IT sectors in coming sessions. Be stock specific trading. 

Crucial supports at 13535-13500. as long as nifty trade above this level, it can bounce back to 13800+.


Suryadev Bandari

Research  Analyst

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