Moneyites September 1, 2017 No Comments

Nifty CMP 9957.00 (+ 39.10 points), On Charts Nifty have a symmetrical triangle upside breakout. Nifty open up above the upper trend line of the symmetrical triangle at 9937.65 and after filling the gap it continue to hold the positive momentum for now. Technically nifty has immediate resistance at 9960-9970 level. Breaking of this resistance level and holding above it for more than 15-20 minutes, give further confirmation of the breakout and Nifty above this resistance zone may trend up to 9990-10015-10035 in the short run.

On the contrary nifty below this resistance zone may try to retest the support level of 9925-9900-9870 in the down side.

Asian market are trading flat to positive, whereas European markets are expected to open in green with around half a percent.

Market breadth is positive. On sector analysis, Nifty Realty is top gainer with +2.48 % trading at 387.35 whereas Nifty IT is the only sector in negative territory with -0.48 % at 10507.25.

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