Nifty Tips:- In our special report yesterday, We have a bullish view on the Nifty50 index in the short term for the upside target of 9500-9600 or even 10,000 marks. The index opens gap positive and keeps capitalizing on the morning gains surged by +285.90 points or +3.17% by the end of the days trading. The index marks the day high of 9334 and rallied by around 270 points after the “BUY” recommendation.
Day Trading:- The Nifty 50 index violated the trading range to the higher side and close above it with the positive momentum in the previous session. The index carrying strong positive momentum and if manage to sustain above 9150 marks may continue to trend higher to retest the level of 9500-9600 in the short run.
The intraday trading strategy is to buy on dips on Nifty future and a call option of 9400 strike price for next week can be initiated for the given below targets.
As our levels decode the daily market movements in simple support and resistance levels with high accuracy. So we recommend keeping the below levels at the back of your mind before going for the intraday trading.
Nifty Support and Resistance Level:- The index has immediate resistance at 9340 above this it may retest the level of 9420-9500 to the upside. Whereas below the level of 9270 it is looking weak and may retest the support level of 9210-9150 to the downside.
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