Last week Nifty closed lower
down by 122 points ended at 8139 level, but on daily chart Nifty is still
trading above the 20 DMA, indicate positive outlook for the index. No change in
technical index is trading above 20 DMA but trading below 50 DMA, show index
would be trading higher for short term but intermediate it would be watchful. Nifty
is having a strong support of June month low and trading above the same, airs
relief session for the investor. For bulls to resume Nifty must closed above
8380 level, on the flip side 7920 will act as a strong support level.
For today, any trade below 8128 level, index can
fall towards 8053 level, where one can used as an opportunity to buy Nifty with
7920 SL on closing basis.
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