Nifty protects the bottom of 10300 reached on 6th of February 2018. Unless this is breached we cannot be bearish any further. From 11185 to 10300, almost 900 points get corrected. It roughly works out to 8%.
Index likely trade between 10300 and 11200 range for the next 1-2 months. Since the bull run extended for more than 12 months, it is necessary for market to undergo correction in a phased manner. Breaching 10300 could happen in March and the target is 9500. Nifty is bullish only above 11000
Bank Nifty has touched 25000 and bounced back above 26100, but could not sustain higher level and closed near 25500 onFriday.
The whole week was action filled with bears devastating the market with vital blow.
Do not rush.. Wait for trade!!!
Index likely trade between 10300 and 11200 range for the next 1-2 months. Since the bull run extended for more than 12 months, it is necessary for market to undergo correction in a phased manner. Breaching 10300 could happen in March and the target is 9500. Nifty is bullish only above 11000
Bank Nifty has touched 25000 and bounced back above 26100, but could not sustain higher level and closed near 25500 onFriday.
The whole week was action filled with bears devastating the market with vital blow.
Do not rush.. Wait for trade!!!
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