Nifty has bounced back with a gap up opening and never looked back and ended the day with a gain of 270 Points. It has halted at the place from where the down side started on budget day. All the multiple resistance levels were crossed yesterday. Now what is left is 11980-12035 hurdle is left out.
Nifty can move up to 12105 which could be the resistance point for the week.
Even in my previous blog I have clearly mentioned that the weekly swing of nifty is complete indicating that there is no further down side. Those who bought PEs were clueless about this up move. We could predict this move on Monday evening itself.
For today the range is 11800-12050 BN 30300-30900.
Good Luck!
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